MRL2601 Assignment 2 (DETAILED ANSWERS) Semester 1 2026 - DISTINCTION GUARANTEED

MRL2601 Assignment 2 (DETAILED ANSWERS) Semester 1 2026 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and references Question 1 1.1 Mandla and Suzan want to incorporate a company called Uniq Ltd. Briefly explain the steps that would need to be taken in order to incorporate the company. (6) 1.2 While driving one afternoon, Suzan notices an office building that will be perfect for the company that they intend to register. She has heard that concluding a pre-incorporation contract may result in her being held personally liable if Uniq Ltd is not subsequently registered. List (do not discuss) the common law alternatives that she can consider instead of concluding a pre-incorporation contract in terms of section 21 of the Companies Act. (4) Question 2 Bapela, Babra and Maite decided to establish a close corporation. The close corporation specialises in the renovation of immovable property, offering a range of services that enhance and restore various types of real estate. Recognising the importance of clarity and structure in their professional relationship, Bapela, Babra, and Maite, who are all members of the close corporation, have decided to draft an association agreement, which details specific rules and regulations that govern their respective duties and responsibilities within the corporation. Part of the association agreement is that no member should be able to contract services outside their specialities. Bapela, while acting on behalf of the close corporation, concludes a contract with Tment Pty (Ltd) to sell cars which fall outside the scope of the close corporation. As a result, Bapela’s actions have affected the close corporation’s operations. With reference to the relevant provisions of the Close Corporations Act 69 of 1984 discuss whether the close corporation will be bound by the contract. Refer to relevant case law in your answer.