Partnership Law - Hypothetical - Policy - Business Law Assessment Answer

Assessment Task:

Assessable Content:

• The lecture content covering Partnership Law, in addition to the textbook, this document and the internet resources referred to in this document are the only sources of information required for this assignment.
•  The lecture materials and the textbook content on Partnership Law provide sufficient information to answer the Hypothetical ILAC Question. There is NO need to undertake any additional research for the Hypothetical ILAC Question. You do not need to look up or use any additional sections or cases and marks will not be provided for such.
•  Your assessment will be marked via the rubric below. A reminder that you must apply the law to be awarded marks under that heading

Question 1:
a) Which section of the Partnership Act 1891 (Qld) gives the definition of a limited partnership?
b) What is the definition of a “limited partnership”?

Question 2:
a) Who has the responsibility for keeping a register of all limited partnerships?
b) In which section of the Partnership Act 1891 (Qld) is that information found?

Question 3:
a) Which section sets out the liability of a limited partner?
b) How much is a limited partner liable to contribute towards the liabilities of the firm?

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