2.Alvin, Simon and Theodore have been in partnership for many years running a vets practice. The...

 

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2.Alvin, Simon and Theodore have been in partnership for many years running a vets practice. The partnership agreement states that all drugs are only to be purchased from Dave. Theodore has been suffering from ill health for a number of years and has now retired. Simon has entered into a contract to buy drugs from Brittany. The drugs have been delivered but now Alvin is refusing to pay for them. Dave is also due payment for drugs purchased by the partnership. Task 1: Which TWO of the following statements are correct? A A general partnership begins when the partnership agreement is signed B A general partnership begins when business activity commences CA general partnership must be registered at Companies House D A general partnership does not need to be registered at Companies House (5 marks) Task 2: Which TWO of the following statements are correct? A A partner has only has express authority which is set out in the partnership agreement B A partner has implied authority as set out in Partnership Act 1890 C Simon has acted within his express authority D Simon has acted within his implied authority (5 marks) Task 3:Which TWO of the following statements are correct? A Alvin and Simon are liable for the debts owed to Dave and Brittany B Alvin and Simon are not liable for the debts owed to Dave and Brittany C Theodore is liable for the debts owed to Dave and Brittany D Theodore will not be liable for the debts owed to Dave and Brittany if he has given correct notice of his retirement (5 marks) 2.Alvin, Simon and Theodore have been in partnership for many years running a vets practice. The partnership agreement states that all drugs are only to be purchased from Dave. Theodore has been suffering from ill health for a number of years and has now retired. Simon has entered into a contract to buy drugs from Brittany. The drugs have been delivered but now Alvin is refusing to pay for them. Dave is also due payment for drugs purchased by the partnership. Task 1: Which TWO of the following statements are correct? A A general partnership begins when the partnership agreement is signed B A general partnership begins when business activity commences CA general partnership must be registered at Companies House D A general partnership does not need to be registered at Companies House (5 marks) Task 2: Which TWO of the following statements are correct? A A partner has only has express authority which is set out in the partnership agreement B A partner has implied authority as set out in Partnership Act 1890 C Simon has acted within his express authority D Simon has acted within his implied authority (5 marks) Task 3:Which TWO of the following statements are correct? A Alvin and Simon are liable for the debts owed to Dave and Brittany B Alvin and Simon are not liable for the debts owed to Dave and Brittany C Theodore is liable for the debts owed to Dave and Brittany D Theodore will not be liable for the debts owed to Dave and Brittany if he has given correct notice of his retirement (5 marks)