2023 Semester 2 Assignment 2 answers - Entrepreneurial Law (MRL2601)
325 views 2 purchases
Course
MRL2601 - Entrepreneurial Law (MRL2601)
Institution
University Of South Africa (Unisa)
Assignment 2
QUESTION 1
Nandi and Patricia want to start a catering business together called It-out (Pty) Ltd. Briefly explain the
steps which they would need to take in order to incorporate a company. (5)
QUESTION 2
The board of directors of Mongalo Estates (Pty) Ltd is contemplating selling...
Assignment 2
SEMESTER 2 2023
MRL2601
ENTREPRENEURIAL LAW
, Assignment 2
QUESTION 1
Nandi and Patricia want to start a catering business together called It-out (Pty)
Ltd. Briefly explain the steps which they would need to take in order to
incorporate a company. (5)
To incorporate a company, Nandi and Patricia would need to follow these steps:
1. Name Reservation: Choose a unique and appropriate name for their catering
business. They can apply for name reservation with the Companies and
Intellectual Property Commission (CIPC) to ensure the name is available.
2. Company Registration: Prepare the necessary documents, such as the
Memorandum of Incorporation (MOI) and complete the registration forms
required by the CIPC. The MOI will outline the company's rules, management
structure, and other important details.
3. Appointing Directors and Officers: Decide on the initial directors and officers
for the company. They would need to provide the necessary details and
documentation of these individuals to the CIPC during registration.
4. Shareholder Agreements: If there are specific agreements between Nandi and
Patricia regarding shareholding, decision-making, profit-sharing, etc., they
should draft a shareholder agreement.
5. Payment of Registration Fees: Pay the required registration fees and submit
all the necessary documents to the CIPC.
6. Receive Certificate of Incorporation: Once all the documents are processed
and approved, they will receive a Certificate of Incorporation, indicating that
the company is officially registered.
7. Compliance and Reporting: After incorporation, they must comply with all legal
requirements, such as submitting annual financial statements and other
relevant documents to the CIPC.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StudyAssistant036. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.99. You're not tied to anything after your purchase.
