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NSW Admission Board Rules 2015
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NSW Admission Board Rules 2015 Part 1Preliminary 1 (1) These Rules are made by the Legal Profession Admission Board under section 21A of the Legal Profession Uniform Law Application Act 2014. (2) These Rules may be cited as the NSW Admission Board Rules 2015. 2 These Rules succeed the Legal Pr...

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  • May 1, 2024
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  • 2023/2024
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Business MCQ


Business Law and Practice (University of Law)




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PART I MULTIPLE CHOICE QUESTIONS (10 MARKS)

Each of the FIVE multiple choice questions in Part 1 is worth two marks.

Record your answers to the Multiple Choice Questions by typing your answer
on your answer document.



QUESTION 1

Lyndsay and Bryan have been running a delicatessen from a market stall for the last
nine months. They contributed unequal amounts to finance the business and agreed
at the outset that all decisions relating to the delicatessen required unanimous
consent. This was the only aspect of running the business that they expressly
agreed.

Which ONE of the following is CORRECT?

A Profits and losses will be shared equally.

B To bring the partnership to an end at least three months’ notice must be given.

C If Bryan and Lyndsay agree to introduce a new partner, the new partner will
automatically become jointly liable for the existing and future debts of the
partnership.

D If Bryan gives notice of his intention to retire, the business will continue as a
partnership.




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