MRL2601 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 (867625) - DUE 20 September 2024
86 views 7 purchases
Course
Entrepreneurial Law (MRL2601)
Institution
University Of South Africa (Unisa)
Book
New Entrepreneurial Law
MRL2601 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 (867625) - DUE 20 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us .
Section 54 of the Close Corporations Act 69 of 1984 stipulates that any member of a close
corporation is an agent of the corporation when dealing with an outsider. This implies that any
act by a member binds the corporation, regardless of whether the act pertains to the
corporation's business. However, the corporation will not be bound if the member lacked
authority and the third party knew or reasonably should have known about this lack of authority.
In the case of J & K Timbers (Pty) Ltd v GL& S Furniture Enterprises CC 2005 (3) SA 223 (N),
the court held that a member acts as an agent of the corporation even without express or implied
authority unless the third party was aware or ought to have been aware of the lack of authority.
Terms of use
By making use of this document you agree to:
• Use this document as a guide for learning, comparison and reference purpose,
• Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
• Fully accept the consequences should you plagiarise or misuse this document.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is” without
any representations or warranties, express or implied. The author assumes no liability as a result of
reliance and use of the contents of this document. This document is to be used for comparison, research
and reference purposes ONLY. No part of this document may be reproduced, resold or transmitted in any
form or by any means.
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 iStudy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.85. You're not tied to anything after your purchase.
