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MRL2601 Assignment 2 Semester 2 2024 (867625) - DUE 20 September 2024 R50,00   Add to cart
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MRL2601 Assignment 2 Semester 2 2024 (867625) - DUE 20 September 2024
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MRL2601 Assignment 2 Semester 2 2024 (867625) - DUE 20 September 2024 QUESTIONS WITH ANSWERS

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  • July 15, 2024
  • 10
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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MRL2601 Assignment
2 Semester 2 2024
(867625) - DUE 20
September 2024
QUESTIONS AND ANSWERS

, MRL2601 Assignment 2 Semester 2 2024 (867625) - DUE 20 September 2024




QUESTION 1

Johannes, Phineas and Beauty are Mnandi CC’s members. Beauty has discovered that

Phineas concluded a contract on behalf of Mnandi CC for the purchase of a yacht

without consent of any of the other members. She is of the opinion that Mnandi CC

should not be bound to the contract because the corporation’s main business is

catering. In addition, she shows you the association agreement which stipulates that

only Johannes is authorised to conclude contracts on behalf of Mnandi CC. Advise

Beauty whether or not Mnandi CC is bound to the contract concluded by Phineas. Refer

to relevant case law in your answer. (5) 5

QUESTION 2

The main object of ABC (Pty) Ltd is manufacturing furniture. The Memorandum of

Incorporation provides that the board of directors may appoint a managing director who

will be authorised to enter into contracts on behalf of the company. Should the contract,

however, exceed the amount of R150 000, prior consent of the general meeting is

required. Godfried, one of the directors, buys a beach house for R350 000 from

Nomagugu on behalf of ABC (Pty) Ltd. Explain whether or not ABC (Pty) Ltd can raise

the restrictions to its capacity as contained in its Memorandum of Incorporation as

grounds to avoid being bound to the contract. (5)

Question 1

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