business and corporations law

Questions:
Q 1.
Differentiate between a sole trader, company and a partnership. Support your answer to this by citing the advantages and disadvantages of using each business structure.
Q 2.
Provide a case summary of the case “Salomon v Salomon & Co Ltd [1897]” using the IRAC method.
What was the significance of this case law in relation to the legal concept of separate legal entity?
Q 3.
When can the corporate veil be lifted under the Corporations Act to make directors liable for corporate debts? 
Q 4. 
Provide a case summary of the case “Lee v Lee’s Air Farming Ltd [1960] UKPC 33” using the IRAC method. What legal principle came out of this case in relation to why the court lifted the corporate veil in this case?  



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