 Explain the historical foundations of the Australian legal system and the current sources of law.
 Describe the essential elements required to create, manage and discharge a contract and the remedies available for breach of contract.
 Explain the different ways in which a business may be carried and the advantages and disadvantages of each method.
 Identify the reasons for choosing one business structure over another.
 Explain the processes for incorporating, managing and winding up a company.

a Consultative Report that will critically analyse the differences between two unincorporated business structures.

Xiaojing, Lance and Nick wish to work together to operate an herbal product business. They have decided to explore unincorporated business structures, in particularly a partnership and a joint venture.
Prepare a consultative report that critically analyses:
 The key features of a partnership as compared to those of a joint venture
 Legislation applicable to both the partnership and to the joint venture
 The differences between the two business structures
 The advantage and disadvantages of each method of business organisation

Your report should give a recommendation, supported by appropriate explanation for choosing either a partnership or a joint venture as the most suitable structure.