LAW 603 Study Guide - Midterm Guide: Professional Negligence In English Law, Income Tax, Melvins

• School: Ryerson University
• Department: Law and Business
• Course: LAW 603
• Professor: Nick Iannazzo

Document Summary

Legal requirements for sp: register business name (business name act ont. Only if different than individuals name: business licence. Is government permission to operate a certain kind of business. General partnerships: when two or more persons carry on business together with a view to a profit, created automatically (facts and substance fall within definition of general partnership) Legislation and partnership arrangements: partnership act (ont default rules for gp, partnership agreements you can change the default rules. If it"s unclear whether gp is created the court will look at all factors. Durocher received a fixed wage (not a share in the profits). By agreement, he was classified as an employee, not a partner. He had no access to the firm"s financial records. They carried on business together with a view to a profit. Durocher assumed increasing responsibility for managing the business. His name appeared in the firm name.