FNSTPB$503$: AT$2$ PROJECT

PR $12.$ Case Study: Partnership versus Joint Venture.

BuildPro Pty Ltd$,$ a building company, and Money Grabbers Pty Ltd$,$ a financial company, join forces to build a desalination plant for the State Government. Money Grabbers raises the funds needed by BulldPro to complete the project. Unfortunately, BuildPro makes a mistake with a major part of the construction and the work needs to be done again. BulldPro argue that Money Grabbers should have to help to pay for the mistake because they had a 'partnership'. Money Grabbers, however, argue that they should not be liable for BuildPro's mistake because what they actually had was a 'joint venture'. Which do you think is correct?