It is going to be report format Essay Example | Topics and Well Written Essays - 2500 words

It is going to be report format - Essay Example In Joe’s case, a partnership relationship usually existed between him and his sister: they used to buy tickets together and discuss the possibility of using their shares of the ticket. According to Beyer G.W. and Petrini J. â€Å"If a taxpayer purchased a lottery ticket with the intent and understanding that the proceeds would be shared with others, the courts have treated the proceeds of the ticket as income to all the recipients rather than as income to just the purchaser.†1 However, on that particular week, Joe’s stepsister did not contribute to the purchase of the ticket and the partnership relationship between the two of them stopped at that moment. It is possible to talk about an intention of sharing the profit in the past weeks, when Joe’s stepsister contributed to the lottery ticket’s purchase, which explains Joe’s intention to share the prize. Joe was the only person who bought the ticket and it is clear that under these circumstance s the intention of sharing the possible profit did not exist. ... on that particular week, Joe was the only buyer of the lottery ticket 3. the fact that his stepsister did not contribute to the purchase of the winning lottery ticket may serve as proof in Joe’s favour to show that on that week he did not buy the ticket with the intention of sharing the prize with his stepsister I would advise Joe not to worry about having to share the prize with his stepsister. Word count: 481 words b) I believe that Lawrence & Co can be held liable for inducing Joe to conclude the contract by creating a false representation on the capacity of the premises. According to Richards P. (217) â€Å"A misrepresentation may be defined†¦ as a false statement of fact that induces another to enter into a contract.†2 It is obvious that Lawrence & Co has made a false statement regarding its premises in order to induce Joe to enter into a contract with it. Even though at the beginning of the negotiations Tim actually believed that the premises were big enough to fit 25 of Joe’s courier vans, the fact that the premises were actually smaller than believed was discovered by Tim during the negotiation process. The disclosure of this discovery at that moment would have stopped the negotiation process and lead to a lost deal for Tim’s business. Therefore, Tim voluntarily hid the discovered fact, believing that there will be no legal consequences against him. Moreover, the belief that all 25 courier vans will fit into the premises was practically the reason that convinced Joe to sign the contract. In the case of Derry v Peek3 the House of Lords concluded that â€Å"Fraud is established where it is proved that a false statement is made: (a)