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MRL2601 Assignment 1 Semester 2 2024 (867833) - DUE 27 August 2024
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MRL2601 Assignment 1 Semester 2 2024 (867833) - DUE 27 August 2024 QUESTIONS WITH COMPLETE ANSWERS
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MRL2601 Assignment1 Semester 2 2024
(867833) - DUE 27
August 2024
[Company address]
, MRL2601 Assignment 1 Semester 2 2024 (867833) - DUE 27 August 2024
QUESTION 1
Explain, with reference to relevant prescribed case law for this module, how the court determines
whether a specific business is a partnership. (10)
QUESTION 2
Explain the difference between the two types of trusts envisaged in the Trust Property Control
Act 57 of 1988. (5)
QUESTION 3
Briefly explain what the purpose of the establishment of a trust is and what parties are involved
in a trust.
QUESTION 1: Determining Whether a Business is a Partnership
Introduction A partnership is defined as a legal relationship between two or more persons who
carry on a business with the objective of making a profit. To determine if a business qualifies as
a partnership, courts often refer to specific criteria and relevant case law.
Criteria for Determining a Partnership The courts use several criteria to ascertain whether a
business arrangement constitutes a partnership:
1. Agreement: There must be an agreement, either oral or written, between the parties
involved.
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