Question

ANSWER this question. The word count is 1000 words

Consider the following topics - business structures - contract law and - employment law.

Running a Business Sunny a career Academic who has decided he does not want to work for the man anymore. Instead he borrows $50 000 money from his parents to be repaid in 12 months and decide to open a business. He goes to a company called 7-11 who tell Sunny that they can help him set up a business in return for entering a licence and payment of fees. This licence agreement gives the right to 7-11 to change the store colours with no notice. Sunny gets going with the business. Unfortunately it is much harder than Sunny thought. And 7-11 force Sunny to renovate the store with their new brand colours. Sunny doesn't have much money so he hires Steven an international student with payment for cash in hand. Steven works 60 hours a week with no pay slip. Steven tells his friend Warwick who tells him to ring up Fair Work Australia. Fair Work Australia then contact Sunny and say that he needs to pay Steven wages and something called Superannuation. All this is too much for Sunny and he closes the business and returns to academia.

Advise Sunny with respect to

1) What are Sunny's parents rights and remedies to recover repayment of the loan?

Answer 1

ANSWER: SUNNY'S PARENT'S RIGHT:

--> According to it, they can repay the amount if they need because they are his parents and they had a right that they can help him or else they aren't bound to repay the amount.

Following are the plans to recover repayment of the loan:

1) Propitation.

2) Advising the fines, duration of the credit or debit to the buyer and also the mortgage value.

3) Agreement with the regular requisite.

4) Agreement of the patronage unit.

5) Appeal in the means of judiciary.

6) Reveal all the possibilities for the compensation.