Course: Introduction to Business Law

Partnership is defined in Section 1 of the Partnership Act in 1892 and other related acts of states and territories. Partnership is the relationship which exists between persons carrying on …

This is the simplest business structure. All business decisions are made by the owner. The business is generally not a separate legal entity from the owner. The owner receives all …

In discussions prior to the formation of a contract, representations may be made by the parties, which may or may not be incorporated as a term of the contract. If …

The terms of a contract may range from being a very minor importance to being of fundamental importance, being absolutely essential to the contract. Whether a term is a condition …

Contracts may be classified as– one, simple contracts. Two, formal contracts. A contract under a seal, a deed. If a contract is not under seal, it is described as a …

The doctrines and principles of common law are often referred to as case law, or judge made law. This is to distinguish them from laws made by parliament, acts of …

Commercial law is the body of law that covers the rights, relations, and conduct of individuals and businesses. Commercial law incorporates the common law and statutory principles relating to commercial …

There are many theories regarding business ethics. The textbook outlines Friedman’s view that businesses only social responsibility is to maximise profits. There are other theorists who, unlike Friedman believe that …

The system of guidelines, practises, and processes by which a company is managed and controlled is described as corporate governance. Corporate governance comprises balancing the interests of the stakeholders, management, …

The means of becoming a member of a company in Australia. Section 231 of a Corporations Act of 2001 sets out ways of becoming a member. In practical terms, there …