CCM - Contract And Commercial Management Certification
CCM - Contract and Commercial Management Certification
Exam (elaborations)
Mercantile Law 292 Questions with Verified Answers
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Course
CCM - Contract and Commercial Management Certification
Institution
CCM - Contract And Commercial Management Certification
Mercantile Law 292 Questions with Verified Answers
Company - CORRECT ANSWER-A juristic person incorporated in terms of the company's act to conduct
business for gain or for another public benefit purpose.
(1)Aquisition of juristic personality (How does the entity aquire legal personality?) - ...
Mercantile Law 292 Questions with Verified Answers
Company - CORRECT ANSWER-A juristic person incorporated in terms of the company's act to conduct
business for gain or for another public benefit purpose.
(1)Aquisition of juristic personality (How does the entity aquire legal personality?) - CORRECT ANSWER-
1.General enabling act: Common law and Companies law
2.Specific act
3.Common law
(2)Aquisition of legal personality through the common law - CORRECT ANSWER-If through common law:
(a) Does the entity conduct itself like a legal person?
(b) Does the entity's constitution have the following elements:
o Perpetual succession
o Entity owns the assets (separate from the people who formed it)
o Lawful purpose.
Gain? - CORRECT ANSWER-"Commercial or material benefit or advantage, not necessarily a pecuniary
profit"
i Not of a charitable, scientific, political, sport, etc. nature.
ii Gain can be direct or indirect.
iii Look at who receives gain.
iv No locus standi.
Carrying on business? - CORRECT ANSWER-"almost anything which is an occupation, as distinguished
from a pleasure - anything which is an occupation or duty which requires attention"
(3) Is the entity's legal personality (acquired through common law) ruled out by s8(3) of the Companies
Act? - CORRECT ANSWER-1)Was the entity formed for the purpose of carrying on any business?
2)Is the object of the entity the acquisition of gain?
3)Was it formed after 31 December 1939?
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