How do partners become liable for the acts of their co-partners – use Polkinghorne v Holland and Practice Question 4 (5) to illustrate (Practice question 5) (5) Lotti, Pearl and Candy set up an accounting practice and decide on a formal written agreement which contains the following: "This business does not give rise to a partnership between the parties and nothing said or done by the parties to this agreement will result in a partnership between them." Lotti provides specialist investment advice while Pearl and Candy do regular accounting work for the clients. They all contribute to the business expenses and divide the profits between them. A new client, Mika, seeks investment advice and is seen by Lotti. The advice Mika receives from Lotti is to invest in Chang Ltd. Lotti's brother Malo is managing director of Chang Ltd. Unfortunately for Mika, Chang Ltd has very few assets and goes into liquidation. Mika phones Lotti to complain but she has left for Singapore permanently. Mika wants to sue the accounting practice but Pearl and Candy deny any knowledge of Lotti's intentions and deny they are liable. Discuss arguments for: Pearl and Candy and; Mika. 1000 words Case Study Assignment on the basis of above question and presentation slides. For the purposes of your 20% Assignment: 1. Keep within the word limit – include a word count - your Assignment must be typed 2. As you would have previously presented on your topic in class you can (if you wish) use a small part of your submission to reflect on your performance 3. The greater part of your submission will be a direct and concise response to the specific topic that you presented upon 4. Make sure you address all questions or issues contained in the presentation topic 5. Your submission must show an understanding and analysis of the relevant issues and evidence of scholarly research 6. Your submission must show that you have considered the relevant material in some depth, used effective source material, and formed an opinion 7. The Assignment should be more than just a textbook summary – sources must be clearly noted – and everything that is used directly from sources clearly attributed on every occasion and indicated in inverted commas (quotation) – you must use a system of footnotes or endnotes or other clear means of identifying your source