100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MRL2601 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (867833) - DUE 27 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. $2.57   Add to cart

Exam (elaborations)

MRL2601 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (867833) - DUE 27 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.

 142 views  1 purchase
  • Course
  • Institution
  • Book

MRL2601 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (867833) - DUE 27 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.

Preview 2 out of 9  pages

  • July 20, 2024
  • 9
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
avatar-seller
, 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 is a partnership, the
court considers various factors and principles derived from case
law and statutory definitions. In South Africa, the determination is
guided primarily by the Partnership Act 1890 and common law
principles. Here’s an outline based on relevant prescribed case
law:
Definition and Legal Framework
1. Partnership Definition:
o According to the Partnership Act 1890, a partnership is

defined as the relationship that subsists between persons
carrying on a business in common with a view to profit.
2. Elements of a Partnership:
o Business: There must be a business activity being

carried out.
o In Common: The business must be conducted jointly

by the parties.
o Profit: The primary motive must be to earn profit.


Key Factors Determined by Case Law
1. Mutual Agency:
o In Ex parte Kearns (1913 TPD 553), the court

emphasized that each partner acts as an agent for the
other, implying that a partnership involves mutual
agency, where each partner can bind the other in
business transactions.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Academy360. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $2.57. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79223 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Recently viewed by you


$2.57  1x  sold
  • (0)
  Add to cart