GLUL 3033 COMPANY LAW MID SEMESTER EXAMINATION (A171) Answer Scheme General rule: Partners are agents of the partnership firm and other partner. "Any act or omission committed by one pariner binds the rest of the partners if it is carried out within the ordinary scope of the firm’s business. Q.5m) Merchantile Credit v Garrod (2.5m) $4 (c )~ sharing of profits is prima facie evidence of partnership but this presumption may be rebutted by showing the purpose of sharing was for some other reason. (v) Payment to the seller of the goodwill of a business in the form of share of the profit of the business. (2.5m) Pratt v Strick (1932) 17 TC 459 2.5m)Issues (1) Whether the name is identical which can cause confusion to the public that these companies are related? (2) What are the particulars in the statement that must be accompanied? 1M Issue | See orth Cheshire & Manchester Brewery Co Ltd v Manchester Brewery Co Ltd [1899] AC SM Application & conelusion SPURT SoC ave two different companies operating inthe same venue with the same types of business, This can caused confusion to the public. So SC has the right fo ask for injunction from court. 2M Issue 2 + §.14(3)- The application shall include a statement consists of: + Name + Status (private or public) + Proposed addiess of the registered office + Details of the members + Details of the directors + Details of the secretary + Details of class & number of shares ( for company limited by shares) 2 The amount member undertakes to contribute (for company limited by guarantee) + Any other information required by the Registrar ESM Application & conclusion ‘Azman can apply to the Registrar for the establishment of a new company. His application ‘must be accompanied by a statement consisting information as stated in S.14(3) 2M Overall conclusion (A) SC has the right to ask for injunction from court. °) Fis application must include a statement consisting information as stated in S.14(3) 1M Total 10M