- 20 Marks
BCL – Nov 2017 – L1 – Q7 – Alternative forms and constitutions of business organisations
Analyze the legality of a partnership's formation and the circumstances under which a partner may be expelled.
Question
a) Kwasi Mensa, aged 21 years, Patience Adibu, aged 14 years, and Kojo Ntim, aged 20 years, agreed to form a partnership. Available information, however, showed that Kojo Ntim was admitted to a psychiatric hospital for 2 years and was later discharged. In the case of Kwasi Mensa, he was declared bankrupt after he could not meet his financial obligations to a company in which he had previously invested. The three, however, went ahead and formed a partnership known as KKK firm.
Required:
Explain whether the KKK firm was formed in accordance with law. (5 marks)
b) State the reasons for which the Courts may order the expulsion of a partner. (10 marks)
c) What advantages does a partnership have over a company? (5 marks)
(Total: 20 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Advantages of Partnership, Capacity, Expulsion, Partnership
- Level: Level 1