MRL2601
Assignment 1 Semester 2 2026
Unique number:
Due date: 11 August 2026
Question 1
1.1 Marcus’s remedy regarding the partnership goodwill
Marcus has a legal remedy because the goodwill and established client base formed part of
the partnership assets when the partnership was dissolved. Goodwill is an intangible asset
representing the commercial value created by the partnership’s reputation, professional
connections and likelihood that existing clients will continue using its services. Cobus cannot
appropriate this asset for his exclusive benefit merely because the partnership agreement is
silent on its treatment.
Marcus may institute the actio pro socio to enforce his rights following dissolution and
require Cobus to account for the partnership goodwill. He may also rely on the utilis actio
communi dividundo, which permits the division of intangible jointly owned assets, including
goodwill (Delport, 2014:324–325). The partners’ fiduciary relationship continues during
liquidation, meaning that Cobus may not obtain a partnership asset improperly without
sharing the resulting benefit with Marcus (Delport, 2014:339).
, Question 1
1.1 Marcus’s remedy regarding the partnership goodwill
Marcus has a legal remedy because the goodwill and established client base formed
part of the partnership assets when the partnership was dissolved. Goodwill is an
intangible asset representing the commercial value created by the partnership’s
reputation, professional connections and likelihood that existing clients will continue
using its services. Cobus cannot appropriate this asset for his exclusive benefit
merely because the partnership agreement is silent on its treatment.
Marcus may institute the actio pro socio to enforce his rights following dissolution
and require Cobus to account for the partnership goodwill. He may also rely on the
utilis actio communi dividundo, which permits the division of intangible jointly owned
assets, including goodwill (Delport, 2014:324–325). The partners’ fiduciary
relationship continues during liquidation, meaning that Cobus may not obtain a
partnership asset improperly without sharing the resulting benefit with Marcus
(Delport, 2014:339).
A proper rendering and settlement of accounts must ordinarily occur before Marcus
claims payment. If Marcus and Cobus held equal interests, Marcus would potentially
claim R500 000 of the R1 million goodwill value, subject to the final partnership
accounts, liabilities and agreed profit-sharing ratio (Delport, 2014:325–326).
1.2 Five reasons for terminating a partnership
A partnership may be terminated for the following reasons:
1. By mutual agreement between the partners.
2. Through the expiry of the agreed partnership period.
3. Upon completion of the undertaking or business for which it was created.
4. Following a change in membership, such as the death, retirement or
withdrawal of a partner.
Assignment 1 Semester 2 2026
Unique number:
Due date: 11 August 2026
Question 1
1.1 Marcus’s remedy regarding the partnership goodwill
Marcus has a legal remedy because the goodwill and established client base formed part of
the partnership assets when the partnership was dissolved. Goodwill is an intangible asset
representing the commercial value created by the partnership’s reputation, professional
connections and likelihood that existing clients will continue using its services. Cobus cannot
appropriate this asset for his exclusive benefit merely because the partnership agreement is
silent on its treatment.
Marcus may institute the actio pro socio to enforce his rights following dissolution and
require Cobus to account for the partnership goodwill. He may also rely on the utilis actio
communi dividundo, which permits the division of intangible jointly owned assets, including
goodwill (Delport, 2014:324–325). The partners’ fiduciary relationship continues during
liquidation, meaning that Cobus may not obtain a partnership asset improperly without
sharing the resulting benefit with Marcus (Delport, 2014:339).
, Question 1
1.1 Marcus’s remedy regarding the partnership goodwill
Marcus has a legal remedy because the goodwill and established client base formed
part of the partnership assets when the partnership was dissolved. Goodwill is an
intangible asset representing the commercial value created by the partnership’s
reputation, professional connections and likelihood that existing clients will continue
using its services. Cobus cannot appropriate this asset for his exclusive benefit
merely because the partnership agreement is silent on its treatment.
Marcus may institute the actio pro socio to enforce his rights following dissolution
and require Cobus to account for the partnership goodwill. He may also rely on the
utilis actio communi dividundo, which permits the division of intangible jointly owned
assets, including goodwill (Delport, 2014:324–325). The partners’ fiduciary
relationship continues during liquidation, meaning that Cobus may not obtain a
partnership asset improperly without sharing the resulting benefit with Marcus
(Delport, 2014:339).
A proper rendering and settlement of accounts must ordinarily occur before Marcus
claims payment. If Marcus and Cobus held equal interests, Marcus would potentially
claim R500 000 of the R1 million goodwill value, subject to the final partnership
accounts, liabilities and agreed profit-sharing ratio (Delport, 2014:325–326).
1.2 Five reasons for terminating a partnership
A partnership may be terminated for the following reasons:
1. By mutual agreement between the partners.
2. Through the expiry of the agreed partnership period.
3. Upon completion of the undertaking or business for which it was created.
4. Following a change in membership, such as the death, retirement or
withdrawal of a partner.
