Ratty and Toad decide to develop Toad Hall into apartments and sell them off. This is a one-off project for them, and there have been some personality clashes and between Ratty and Toad in the past, such that there is a level of suspicion between them towards each other. However, the combination of Ratty's business acumen and Toad's construction knowledge is likely to be fruitful, and they do want the project to go ahead. What is the most suitable business structure for Ratty and Toad's plan?

Group of answer choices

Ratty and Toad enter into a joint venture agreement

A trust is created over Toad Hall, where Toad is the sole beneficiary

Ratty and Toad each operate as sole traders

Ratty and Toad enter into a partnership agreement

Flag question: Question 5

Question 51 pts

The Australian Securities and Investments Commission, or ASIC, is the main regulator of companies in Australia. Its functions do NOT extend to:

Group of answer choices

Advising the government about corporate law reform

Controlling the registration of Australian companies

Supervising entities listed on the Australian Stock Exchange

Investigating breaches of the corporations law.

Flag question: Question 6

Question 61 pts

The corporate veil was lifted in Gilford Motor Home v Horne because

Group of answer choices

Horne wanted to avoid the effect of the Restraint of Trade Act

The Gilford Motor Co was a puppet of Horne

Horne was perpetrating a fraud

Horne was avoiding his existing legal obligations