MRL2601 Assignment 1
Semester 2 2024 (867833) -
DUE 27 August 2024
QUESTIONS WITH ANSWERS
[DATE]
[COMPANY NAME]
[Company address]
, MRL2601 Assignment 1 Semester 2 2024 (867833) - DUE 27 August 2024
QUESTION 1
Explain, with reference to relevant prescribed case law for this module, how the court
determines whether a specific business is a partnership. (10)
QUESTION 2
Explain the difference between the two types of trusts envisaged in the Trust Property
Control Act 57 of 1988. (5)
QUESTION 3
Briefly explain what the purpose of the establishment of a trust is and what parties are
involved in a trust.
### QUESTION 1: Determining a Partnership in Business Law
In determining whether a specific business is a partnership, courts generally consider
several criteria based on both common law principles and relevant case law. The
essential elements that must be present for a partnership to exist are:
1. **Agreement:** There must be an agreement, whether express or implied, between
the parties to carry on a business.
2. **Business:** The parties must carry on a business.
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