Corporations law

1. Requirements for this assignment:

· Comprehensive footnotes

· A bibliography of all research and related sources and resources

· Australian Guide to Legal Citation (AGLC) referencing (This is attached as PDF)

· Memorandum of advice format: see the table below 

Scenario

You are a trainee solicitor in Delaney Williams, Lawyers and Consultants. You work for Jo Delaney, Lawyer.

Prepare one memo as per the instructions on Files 1

Client File #1

Sam and Ida run a café as a pty ltd, trading under the business name ‘Seafood Bounty Café’ and have done so for three years. Sam and Ida are the only members and shareholders of the company, SBC Pty ltd.

Ida’s mother, Rowena, lent the company start-up capital of $50,000.

The two long-time friends ran a café business previously without paperwork, but split everything 50-50. They discussed a partnership, but never formalized anything.

Ida has just found out that Sam has secretly set up another business with Patrick.

Advice sought  

Task 2: Ida wants to know what:

· 2.1 Her responsibility is for the debt to Rowena?; and

· 2.2 What legal options she has, given Sam’s actions?

Prepare a memorandum of advice addressed to Jo Delaney

Required

Please provide one memoranda of preliminary advice on the client files referred to above.

The memorandum is written by you in your capacity as a legal trainee addressed to your supervisor Jo Delaney, lawyer.

It should contain comprehensive advice on the legal and related matters pertinent to the issues referred to above.

The memo should be around 1,250 words