Class notes
MRL2601 - Entrepreneurial Law 27 Jun 2023 exam notes/multiple choice and long questions
- Course
- Institution
- Book
100% pass guaranteed assignments notes 27 jun 2023
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Exam (elaborations) MRL 2601 New Entrepreneurial Law
-
MRL2601 Assignment 1 (DETAILED ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED
-
MRL2601 Assignment 1 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED
Seller
Follow
STUDYBUDDY10111
Reviews received
Content preview
Entrepreneurial LawMRL2601
STUDYBUDDY10111 [Date] MRL2601
, COMPILED BY STUDYBUDDY10111
SHARE WITH FRIENDS
1. 1 a) List the essentialia of the partnership agreement.
1. each partner must make a contribution to the partnership (e.g. money,
labour, etc)
2. the partnership business must be carried on for the joint benefit of the
partners
3. the partnership must have the objective of making a profit
b) Explain how the naturalia of a partnership agreement differs from the
essentialia of a partnership agreement (10)
Naturalia:
1. partners can alter the naturalia
2. partners share in the profits and losses of a partnership
3. each partner has the power to represent the partnership in transactions
falling within the scope of partnership business unless the partners agree to
the contrary (mutual mandate)
4. partners will not receive compensation for their contributions: their
compensation lies in profit sharing
5. partners hold the assets of a partnership as co-owners because a
partnership is not a legal entity
1.2 Mary and Cindy are partners in the décor business, trading as “Stars”.
Mary is the is the manager of the business and has employed her mother on a
part- time basis to work in their shop in peak periods Mary and Cindy have
decided that the unanimous consent of the partners must be obtained at the
formal meeting before a contract exceeding the value of R10 000 may be
concluded on behalf of the partnership.
Discuss whether Stars will be bound by the following contract concluded
in the name of the partnership: Cindy purchased paintings to the value of
R120 000 on behalf of the partnership from an art dealer for the
decorating contract without he necessary consent. Mary’s mother did not
like the paintings and sent them back to the shocked art dealer.(5)
1|Page
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller STUDYBUDDY10111. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.98. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now