+27 680 77 9615
280 Oak Avenue, Randburg, Johannesburg, ZA
, +27 680 77 9615
280 Oak Avenue, Randburg, Johannesburg, ZA
QUESTION 1
Identify the different types of partnership that are recognised in South African
law. (5)
1. General/ordinary partnership: This is the most common type of partnership in
South Africa. In a general partnership, the partners are jointly and severally
liable for the debts and obligations of the partnership. This means that each
partner is liable for the full amount of the partnership's debts, regardless of their
individual contribution to the partnership.
2. Anonymous (sleeping) partnership: This type of partnership involves an
anonymous partner who is not known to the public. The anonymous partner is
liable to the partners for their pro rata share of the partnership, but is not
personally liable to third parties. This type of partnership is less common in
South Africa.
3. Commanditarian partnership: This type of partnership is also known as a limited
partnership. In a commanditarian partnership, there is at least one partner who
is a purely financial participant with restricted liability, similar to a shareholder
in a company. This partner shares in the profits and losses of the partnership,
but their liability is limited to their specific contribution or to an agreed amount.
The other partners are general partners and are jointly and severally liable for
the partnership's debts and obligations.1
QUESTION 2
Petrus in his will bequeaths his farm to his two sons on condition that they farm
in partnership. Lenta, an 82-year-old unmarried woman and Maxfed (Pty) Ltd
conclude a partnership agreement. A few pharmacists conclude a partnership
1
https://www.sars.gov.za/TaxTypes/ITR/Pages/What-is-a-partnership.aspx)
280 Oak Avenue, Randburg, Johannesburg, ZA
, +27 680 77 9615
280 Oak Avenue, Randburg, Johannesburg, ZA
QUESTION 1
Identify the different types of partnership that are recognised in South African
law. (5)
1. General/ordinary partnership: This is the most common type of partnership in
South Africa. In a general partnership, the partners are jointly and severally
liable for the debts and obligations of the partnership. This means that each
partner is liable for the full amount of the partnership's debts, regardless of their
individual contribution to the partnership.
2. Anonymous (sleeping) partnership: This type of partnership involves an
anonymous partner who is not known to the public. The anonymous partner is
liable to the partners for their pro rata share of the partnership, but is not
personally liable to third parties. This type of partnership is less common in
South Africa.
3. Commanditarian partnership: This type of partnership is also known as a limited
partnership. In a commanditarian partnership, there is at least one partner who
is a purely financial participant with restricted liability, similar to a shareholder
in a company. This partner shares in the profits and losses of the partnership,
but their liability is limited to their specific contribution or to an agreed amount.
The other partners are general partners and are jointly and severally liable for
the partnership's debts and obligations.1
QUESTION 2
Petrus in his will bequeaths his farm to his two sons on condition that they farm
in partnership. Lenta, an 82-year-old unmarried woman and Maxfed (Pty) Ltd
conclude a partnership agreement. A few pharmacists conclude a partnership
1
https://www.sars.gov.za/TaxTypes/ITR/Pages/What-is-a-partnership.aspx)
