Rose, Mary, Violet and Sonny are the best of mates. Rose and Mary run the Busy Bee Florist Shop in partnership with each other. Due to a long drought and unseasonal weather, the business bank account is overdrawn and the Friendly Bank is refusing to honour any

| October 22, 2018

QuestionRose, Mary, Violet and Sonny are the best of mates. Rose and Mary run the Busy Bee Florist Shop in partnership with each other. Due to a long drought and unseasonal weather, the business bank account is overdrawn and the Friendly Bank is refusing to honour any more cheques. Rose approaches Violet for a loan in return for a share in the business. Violet agrees to lend the partnership $20,000 in exchange for the drawing up of a loan agreement which was to document, among other things, th

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