Legal Business Relationship : Business Law - Law Assignment

Internal Code - MAS1456

Law Assignment

A person enters your office with a tale to tell. It seems that he had an close relationship with a person and which became something of a business relationship when they jointly created and sold products at Trash and Treasure every Sunday morning. The other party seems to have stolen away in the early hours of the morning with exactly half of the stock and the proceeds of the sales.The person tells you that such a thing would be fine (leaving aside the personal side of the termination of the relationship) save that they have been left with a large account from suppliers who now want payment in full. Questions :  1. Is there a legal business relationship? 2. If so, then what type is there? 3. Have the actions of any person estopped them from denying a business relationship exists? 4. Is there any legal liability for your client?