MRL2601 Assignment 01 2023

ENTREPRENEURIAL LAW
MRL2601
First Semester 2023
ASSIGNMENT 01

MERCANTILE LAW
 MRL2601 Assignment 01 2023

Table of Contents

1 GENERAL INSTRUCTIONS ......................................................................................................... 3

2 ASSIGNMENT 01 DUE DATE ...................................................................................................... 3
3 ASSIGNMENT 01 QUESTIONS ................................................................................................... 4

2
 MRL2601 Assignment 01 2023

1 GENERAL INSTRUCTIONS

• There are TWO (2) assignments in this module. Both assignments are compulsory
and contribute to your year mark. If you do not submit Assignment 01 before the relevant
date, your registration will be cancelled, and you will not be admitted to the examination
in MRL2601.
• The due for Assignment 01 is 15 March 2023 before 20h00.
• The unique number of Assignment 01 is 635450.
• Note that you will only be able to submit your Assignments 01 from 10 February 2023
after 08h00. No resubmissions will be permitted. Please ensure that you submit the
correct document.
• Your answer should not exceed THREE (3) typed pages (A4 single line spacing) or FIVE
(5) handwritten pages (excluding the Bibliography). If you exceed the page limitation, you
will be penalised.
• References to sources must be provided by means of footnotes or in text references and
a Bibliography must be included.
• The assignments are individual assignments and must be completed without assistance
of other students or external parties.
• Please include an honesty declaration in the assignment.
• Assignment 01 is a written assignment consisting of longer type questions. The
assignment counts a total of 30 marks.
• Neatness is essential. Plan your answers in advance.
• Assignment 01 contains the type of longer questions that you can expect in the
examination. You should try to answer them under examination conditions. Had the
assignment been examination questions together counting 30 marks, you would have
been given 60 minutes to complete them. This means that you cannot write an answer
that is several pages long for a 5-mark question.
• The questions in Assignment 01 are set on the law relating to partnerships and trusts.
You write off this component of the work in this assignment. You will be examined only
on companies and close corporations

2 ASSIGNMENT 01 DUE DATE

The closing date for the submission of Assignment 01 is:

Assignment unique number Closing date

635450 15 March 2023 before 20h00

3
 MRL2601 Assignment 01 2023

3 ASSIGNMENT 01 QUESTIONS

QUESTION 1

Identify the different types of partnership that are recognised in South African law. (5)

QUESTION 2

Petrus in his will bequeaths his farm to his two sons on condition that they farm in partnership.
Lenta, an 82-year-old unmarried woman and Maxfed (Pty) Ltd conclude a partnership
agreement. A few pharmacists conclude a partnership agreement with the aim of repackaging
and selling stolen medication. Dobby, an eleven-year-old with assistance from his guardian
concludes a partnership agreement with Playco CC with the aim of marketing and distributing
toys.
With reference to the facts provided above and the requirements for the conclusion of a
partnership agreement, explain whether a valid partnership can come into existence in the
respective scenarios. (5)

QUESTION 3

With reference to relevant authority, indicate whether a partnership is recognised as a separate

entity apart from the partners in terms of South African law. (5)

QUESTION 4

Briefly explain what the requirements are for the formation of a valid trust. (10)

QUESTION 5

Set out five (5) duties of a trustee in relation to a business trust. (5)

TOTAL: 30

Good luck with your assignment.

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