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论文作者:51lunwen论文属性:作业计算问题 Assignments:Questions, Math Problems登出时间:2008-09-04编辑:点击率:16043
论文字数:3001论文编号:org200809040720239643语种:英语 English地区:英国价格:$ 33
关键词:legal actionassignmentHong KongIndividual partnership
As for the loss of Qiang in this case, he should file a lawsuit against Li after paying for Walter’s damages jointly with Li. According to relative laws, “In case there are several principals, one or several of them agree to rescind the agency relation without the consent of other principals, which thereby causes damages, the principal who proposes to rescind the agency relationship shall undertake liabilities.” In this case, it is Li that fails to negotiate with other entrusted agent Qiang, and the acts performed infringe upon the interests of the principal Walter. So Qiang shall have the rights to sue Li for asking him to undertake civil liabilities.
From this case, we can see the problem of “risk event”. Thus it is of great significance to minimize risk by establishing a limited partnership or a limited cooperation. In a limited partnership, Qiang can requires to be the limited partner, who shall at the time of entering into such partnership contribute thereto a sum or sums as capital or property valued at a stated amount A company, usually called a limited liability company, is a particular form of business entity whose owners have limited personal liability for the debts and actions of the company. Therefore, in case of the situation like this case, Qiang should take as much responsibility as in proportion to his investment in the company or a limited partnership.
1 and either question 2 or 3. A strict word limit of 900 words applies to question 1, and 600 words for questions 2 and 3.
Question 1 - compulsory
Li and Qiang operate a business together as buyer’s representatives for purchasing properties. Their work involved acting for others as a representative of buyers at auctions to purchase residential real estate. When Qiang was in Australia on a business trip, Li was engaged by Walter (who lives in Hong Kong) to purchase for him a property in Hong Kong for not more than $1,500,000 (HK). Li’s cousin had a residential property that met all of Walter’s requirements. The property was on the market for $1,400,000. Li said to his cousin “I have been engaged by this rich man to buy him a property like yours, and is prepared to pay $1,500,000. Why don’t we sell your property to him for $1,500,000 and split the $100,000 difference?” The cousin agreed. The sale is completed and the cousins shared the $100,000 difference.
While looking through some old newspapers about a month later, Walter sees the property he has just bought advertised for $1,400,000, and finds out the truth.
a) Can Walter take legal action against Li and/or Qiang? In your answer consider both the legal relationship between Walter on one hand and Li and Qiang on the other. Also consider the type of legal relationship that exists between Li and Qiang in their business operation.
b) Identify the how you would minimise risk at each “risk event” you can identify in this question.
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