MRL2601 ASSIGNMENT 1 MEMO - SEMESTER 2 - 2024 - UNISA - DUE : 27 AUGUST 2024 - ( FULLY REFERENCED WITH FOOTNOTES - DISTINCTION GUARANTEED)
MRL2601 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (867833) - DUE 27 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
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Entrepreneurial Law
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MRL2601 Assignment
1 (COMPLETE
ANSWERS) Semester 2
2024 (867833) - DUE 27
August 2024 ; 100%
TRUSTED Complete,
trusted solutions and
explanations.
ADMIN
[COMPANY NAME]
, 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)
To determine whether a specific business constitutes a partnership,
the court typically considers several factors, as outlined in relevant
case law. Here’s a structured approach based on legal principles:
1. Agreement or Contract: The court will first look at whether
there is an agreement or contract between the parties to carry
on a business together. This agreement can be oral, written, or
implied from the conduct of the parties.
2. Sharing of Profits and Losses: One of the essential features
of a partnership is the sharing of profits and losses. The court
will examine whether the parties have agreed to share the
profits arising from the business activities and also whether
they are mutually responsible for any losses incurred.
3. Joint Ownership of Property or Assets: Although not always
necessary, joint ownership of property or assets used in the
business can indicate a partnership. This includes whether the
business is conducted in common property or with shared
assets.
4. Mutual Agency: Partners in a business typically act as agents
for each other and for the partnership. This means they can
bind each other and the partnership in transactions related to
the business. The extent to which each partner can act on
behalf of the others is crucial.
5. Intention of the Parties: The court will consider the intention
of the parties. Even if they did not formally declare themselves
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