[TYPE THE COMPANY NAME]
FBE2604 Assignment 2
(COMPLETE ANSWERS)
Semester 1 2025 - DUE April
2025
[Type the document subtitle]
[Pick the date]
[Type the abstract of the document here. The abstract is typically a short summary of the contents of
the document. Type the abstract of the document here. The abstract is typically a short summary of
the contents of the document.]
, Exam (elaborations)
FBE2604 Assignment 2 (COMPLETE
ANSWERS) Semester 1 2025 - DUE April
2025
Save 4 minutes reading time
Forms of Business Enterprise (FBE2604)
Institution
University Of South Africa (Unisa)
Book
Forms of Business Enterprise
FBE2604 Assignment 2 (COMPLETE ANSWERS) Semester 1 2025 - DUE April
2025; 100% TRUSTED Complete, trusted solutions and explanations. Ensure
your success with us..
Question: 1 Pat and his two sons, Rick and Dave are discussing the legal
attributes of a trust. Pat thinks that trusts have a separate legal existence.
Rick is of the view that there is no distinction drawn between trust assets
and private assets of the trustee even though a trustee is legally the owner
of the trust assets. Dave on the other hand, holds the opinion that parties to
a trust may lose more than what is held in the trust. They approach you for
advice on the legal attributes of a trust. Advise them accordingly. (In your
advice, define a trust, deal with each view as presented and then conclude).
QUESTION 1 1.1 Briefly explian to two prospective businessmen, Thandeka
and Mike, whether or not the requirements for piercing of the corporate veil
in terms of the Companies Act 71 of 2008 and the Close Corporations Act 69
of 1984 are identical. Refer to case law in your answer. (5) 1.2 Frank is an IT
specialist. He wishes to incorporate a company for his business. He does not
want to offer any securities to the public. 1.2.1 Advise Frank on the type of
company that would be the most suitable for his needs and briefly explain to
him what the characteristics of such a company are. (5) 1.2.2 Frank sees an
office space that will be perfect for his IT business. He wants to purchase this
office space on behalf of the proposed company. Advise Frank regarding the
requirements of the Companies Act 71 of 2008 that must be complied with
when entering into a contract on behalf of a company that is yet to be
incorporated for the contract to be binding on the company when it
eventually gets incorporated. (5) 1.2.3 List the information that must be
contained in a company’s Notice of Incorporation. (6) 1.2.4 Timothy is
appointed as an agent for Frank’s company, Geeks Galore (Pty) Ltd, and is
FBE2604 Assignment 2
(COMPLETE ANSWERS)
Semester 1 2025 - DUE April
2025
[Type the document subtitle]
[Pick the date]
[Type the abstract of the document here. The abstract is typically a short summary of the contents of
the document. Type the abstract of the document here. The abstract is typically a short summary of
the contents of the document.]
, Exam (elaborations)
FBE2604 Assignment 2 (COMPLETE
ANSWERS) Semester 1 2025 - DUE April
2025
Save 4 minutes reading time
Forms of Business Enterprise (FBE2604)
Institution
University Of South Africa (Unisa)
Book
Forms of Business Enterprise
FBE2604 Assignment 2 (COMPLETE ANSWERS) Semester 1 2025 - DUE April
2025; 100% TRUSTED Complete, trusted solutions and explanations. Ensure
your success with us..
Question: 1 Pat and his two sons, Rick and Dave are discussing the legal
attributes of a trust. Pat thinks that trusts have a separate legal existence.
Rick is of the view that there is no distinction drawn between trust assets
and private assets of the trustee even though a trustee is legally the owner
of the trust assets. Dave on the other hand, holds the opinion that parties to
a trust may lose more than what is held in the trust. They approach you for
advice on the legal attributes of a trust. Advise them accordingly. (In your
advice, define a trust, deal with each view as presented and then conclude).
QUESTION 1 1.1 Briefly explian to two prospective businessmen, Thandeka
and Mike, whether or not the requirements for piercing of the corporate veil
in terms of the Companies Act 71 of 2008 and the Close Corporations Act 69
of 1984 are identical. Refer to case law in your answer. (5) 1.2 Frank is an IT
specialist. He wishes to incorporate a company for his business. He does not
want to offer any securities to the public. 1.2.1 Advise Frank on the type of
company that would be the most suitable for his needs and briefly explain to
him what the characteristics of such a company are. (5) 1.2.2 Frank sees an
office space that will be perfect for his IT business. He wants to purchase this
office space on behalf of the proposed company. Advise Frank regarding the
requirements of the Companies Act 71 of 2008 that must be complied with
when entering into a contract on behalf of a company that is yet to be
incorporated for the contract to be binding on the company when it
eventually gets incorporated. (5) 1.2.3 List the information that must be
contained in a company’s Notice of Incorporation. (6) 1.2.4 Timothy is
appointed as an agent for Frank’s company, Geeks Galore (Pty) Ltd, and is
