MRL2601 Assignment 1
(COMPLETE ANSWERS)
Semester 1 2026 - DUE
6 March 2026
[Document subtitle]
[School]
[Course title]
, MRL2601 Assignment 1 (COMPLETE ANSWERS) Semester 1 2026 - DUE 6 March 2026
Institution
University Of South Africa (Unisa)
Course
Entrepreneurial Law (MRL2601)
MRL2601 Assignment 1 (COMPLETE ANSWERS) Semester 1 2026 - DUE 6 March 2026; 100%
TRUSTED Complete, trusted solutions and explanations.
Question 1
Ben is a young aviation specialist who is passionate about aircraft and aviation law. In his
professional pursuits, he has decided to establish a company or form a partnership with a
colleague that would enhance the global aspect of aviation within the area of corporate law. Ben
decides to approach you for advice about a partnership and a company. Advise Ben on the
difference between a partnership and a company. (10)
1. Definition:
Partnership: A partnership is an arrangement where two or more people agree to carry
on a business together with the aim of making a profit. Partners share responsibilities,
profits, and liabilities.
Company: A company is a separate legal entity registered under the Companies Act. It
exists independently of its owners (shareholders) and can own property, enter contracts,
sue, and be sued in its own name.
2. Legal Status:
Partnership: Does not have a separate legal identity. The partners themselves are
personally liable for the business’s debts and obligations.
Company: Has a separate legal personality, distinct from its shareholders. Shareholders’
liability is generally limited to the amount they have invested in shares (limited liability).
3. Formation:
Partnership: Formed through an agreement between partners (oral or written). It is
simpler and less costly to establish.
(COMPLETE ANSWERS)
Semester 1 2026 - DUE
6 March 2026
[Document subtitle]
[School]
[Course title]
, MRL2601 Assignment 1 (COMPLETE ANSWERS) Semester 1 2026 - DUE 6 March 2026
Institution
University Of South Africa (Unisa)
Course
Entrepreneurial Law (MRL2601)
MRL2601 Assignment 1 (COMPLETE ANSWERS) Semester 1 2026 - DUE 6 March 2026; 100%
TRUSTED Complete, trusted solutions and explanations.
Question 1
Ben is a young aviation specialist who is passionate about aircraft and aviation law. In his
professional pursuits, he has decided to establish a company or form a partnership with a
colleague that would enhance the global aspect of aviation within the area of corporate law. Ben
decides to approach you for advice about a partnership and a company. Advise Ben on the
difference between a partnership and a company. (10)
1. Definition:
Partnership: A partnership is an arrangement where two or more people agree to carry
on a business together with the aim of making a profit. Partners share responsibilities,
profits, and liabilities.
Company: A company is a separate legal entity registered under the Companies Act. It
exists independently of its owners (shareholders) and can own property, enter contracts,
sue, and be sued in its own name.
2. Legal Status:
Partnership: Does not have a separate legal identity. The partners themselves are
personally liable for the business’s debts and obligations.
Company: Has a separate legal personality, distinct from its shareholders. Shareholders’
liability is generally limited to the amount they have invested in shares (limited liability).
3. Formation:
Partnership: Formed through an agreement between partners (oral or written). It is
simpler and less costly to establish.
