- 20 Marks
BCL – L1 – Q59 – Alternative forms and constitutions of business organisations
Advise Ama, Dela, John, and Mr. Addo on forming a consultancy partnership, considering capital contributions and partner eligibility.
Question
Ama, Dela, and John were classmates from ICAG 2014 batch of graduates. They intend to form a consultancy firm/partnership in the future by pooling resources together. Ama’s 2005 Toyota Siena estimated at GH¢40,000 will be her initial capital contribution towards the formation of the partnership. However, the car is currently registered in the name of her father, Mr. Addo, a 59-year-old Chief Accountant for Zenith Energy Limited, who desires to be part of the daughter’s business upon retirement and will not let go of title to the car without any benefit. Dela and John, who are contributing GH¢30,000 each of the initial capital, are opposed to any ‘old-school’ accountant being part of their partnership.
You are the most-rated business law student. Advise the parties.
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