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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) - DUE 20 September 2024 QUESTIONS WITH ANSWERS
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[Company name]MRL2601 Assignment
2 Semester 2 2024
(867625) - DUE 20
September 2024
QUESTIONS AND ANSWERS
, 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 1
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