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MRL2601 Assignment 2 Semester 2 2024 (867625) - DUE 20 September 2024
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MRL2601 Assignment 2 Semester 2 2024 (867625) QUESTIONS AND ANSWERS
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MRL2601 Assignment2 Semester 2 2024
(867625) - DUE 20
September 2024
QUESTIONS WITH COMPLETE ANSWERS
[School]
[Course title]
, MRL2601 Assignment 2 Semester 2 2024 (867625) - DUE 20
September 2024
QUESTION 1
Johannes, Phineas and Beauty are Mnandi CC’s members. Beauty has
discovered that Phineas concluded a contract on behalf of Mnandi CC for
the purchase of a yacht without consent of any of the other members. She
is of the opinion that Mnandi CC should not be bound to the contract
because the corporation’s main business is catering. In addition, she shows
you the association agreement which stipulates that only Johannes is
authorised to conclude contracts on behalf of Mnandi CC. Advise Beauty
whether or not Mnandi CC is bound to the contract concluded by Phineas.
Refer to relevant case law in your answer. (5) 5
QUESTION 2
The main object of ABC (Pty) Ltd is manufacturing furniture. The
Memorandum of Incorporation provides that the board of directors may
appoint a managing director who will be authorised to enter into contracts
on behalf of the company. Should the contract, however, exceed the
amount of R150 000, prior consent of the general meeting is required.
Godfried, one of the directors, buys a beach house for R350 000 from
Nomagugu on behalf of ABC (Pty) Ltd. Explain whether or not ABC (Pty)
Ltd can raise the restrictions to its capacity as contained in its
Memorandum of Incorporation as grounds to avoid being bound to the
contract. (5)
QUESTION 3
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