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MRL2601 EXAM PACK 2024/2025 (QUESTIONS & ANSWERS)
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MRL2601 EXAM PACK 2024/2025 QUESTIONS WITH COMPLETE ANSWERS, COMPILED FROM RECENT PAST EXAM PAPERS. PERFECT FOR EXAM PREPARATION.
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,UNIVERSITY EXAMINATIONSMay/June 2024
MRL2601
Entrepreneurial Law
80 Marks
Duration four (4) hours
First examiner: Prof J Geldenhuys
Second examiner: Dr V Madlela
PLEASE READ THE FOLLOWING INSTRUCTIONS CAREFULLY BEFORE
ANSWERING THE EXAMINATION QUESTIONS.
,QUESTION 1
Fill in the missing word/s to complete the statement. In your answer provide only the
question number and the answer. Example: 1.11 – Shareholder.
1.1 The process by which the court disregards the separate legal personality of a
company or a close corporation in order to hold individuals liable is known as
……………………. (1)
1.2 The……………… is the sole registration document of a close corporation.
(1)
1.3 Everest Ltd is a……………company. (1)
1.4 ……………. applies when an agent did not have actual authority to bind a company, and
a misrepresentation was made by the company as principal that the agent had
authority to act on behalf of the company. (1)
1.5 A document issued by a company acknowledging that it is indebted to the holder in
the amount stated therein is called a……………
(1)
1.6 The number of persons needed to be present at a shareholders’ meeting for the meeting
to begin is called a ………………… (1)
1.7 A(n) …………… is a director who holds office as a director of a company as a
result of their holding another office or title or status. (1)
, 1.8 The optional agreement that can be concluded between members in a close corporation
to regulate the internal affairs in the business, is called a(n)
………………. (1)
1.9 ………………… is a long-term project of constitutional enactment, interpretation and
enforcement to transform the country’s political, legal and social institutions and power
relations in a democratic way. (1)
1.10 A contract entered into by a person who is acting on behalf of a company that does not
exist yet is called a …………………... (1)
[10]
QUESTION 2
2.1 The Memorandum of Incorporation of Guns 'n Roses (Pty) Ltd provides that the main
business of the company is the manufacturing and sale of toy guns. Mr Hoodlum, one
of the directors, has been authorised by a board resolution to act on behalf of the
company. Mr Hoodlum concludes a contract on behalf of Guns ‘n Roses (Pty) Ltd with
Mr Brothel for the purchase of a nightclub. Mr Brothel has no knowledge of the
contents of the Memorandum of Incorporation of the company. Mr Orthodox, a majority
shareholder of Guns ‘n Roses (Pty) Ltd, is upset about the purchase of the nightclub.
Mr Orthodox approaches you for legal advice.
2.1.1 Explain whether the contract concluded by Mr Hoodlum and Mr Brothel is valid
and enforceable against the company. (5)
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