MRL2601
Assignment 1 Semester 1 2024
Detailed Solutions, References & Explanations
Unique number: 399703
Due Date: 15 March 2024 at 23h00
QUESTION 1 (3 ANSWERS PROVIDED)
A partnership is a legal relationship created by means of a contract concluded between two
or more persons. Each partner agrees to make some kind of contribution to the partnership
business.
• The business is carried for a joint benefit of the parties with the object of making a
profit.
• Each partner must contribute or promise to contribute something that has economic
value such as money, property, knowledge, skill, contacts or experience.
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