FBE2604 Assignment 1 (COMPLETE ANSWERS) Semester 1 2026 - DUE 24 March 2026; 100% Correct solutions and explanations.

FBE2604 Assignment 1 (COMPLETE ANSWERS) Semester 1 2026 - DUE 24 March 2026; 100% Correct solutions and explanations.Assignment 01 This is an ordinary written or typed assignment. Answering this question gives you practice in answering the type of problem- or discuss-type questions that you may expect in the examination. Your answer should not exceed one page. You may reference your sources as you wish, i.e. in-text, or in footnotes. A bibliography is not needed. Make use of the information on the module site for FBE2604 for 2026/01 to answer the assignment questions. Note that marks will not be awarded for information sourced from other books or websites, sources or case references contained in your answers. Question 1 Thabo and Lerato agree to start a business selling organic skincare products. Thabo contributes R100 000 in cash but insists that this amount must be repaid to him in full even if the business fails. Lerato contributes her expertise, industry contacts, and manages the day-to-day operations. The parties agree that Lerato will receive 30% of the profits only if the business makes more than R200 000 in net profit per year. No written agreement is concluded. After two years, a dispute arises. Thabo claims that a partnership exists and demands that Lerato share in the losses incurred by the business. Lerato argues that no partnership was ever formed. With reference to the essentialia of a partnership agreement and relevant case law, advise whether a valid partnership exists