FBE2604
Assignment 1 Semester 1 2026
Unique number:
Due Date: 26 March 2026
QUESTION 1 (2 DIFFERENT ANSWERS PROVIDED)
VALIDITY OF PARTNERSHIP BETWEEN THABO AND LERATO
To decide whether a valid partnership exists between Thabo and Lerato, we must examine
the essentialia of a partnership agreement as laid down in Joubert v Tarry and Co 1915 TPD
277 and Co and other relevant case law.
1. Contribution by the Partners
A valid partnership requires that each party contributes something of commercial value.
Thabo contributed R100 000 in cash. However, he insisted this money must be returned to
him even if the business fails. This condition means his contribution is not exposed to
business risk, which disqualifies it as a valid partnership contribution.1 On the other hand,
Lerato contributed her expertise, contacts, and operational work. This satisfies the
requirement of a contribution.1
DISCLAIMER & TERMS OF USE
Educational Aid: These study notes are intended to be used as educational resources and should not be seen as a
replacement for individual research, critical analysis, or professional consultation. Students are encouraged to perform
their own research and seek advice from their instructors or academic advisors for specific assignment guidelines.
Personal Responsibility: While every effort has been made to ensure the accuracy and reliability of the information in
these study notes, the seller does not guarantee the completeness or correctness of all content. The buyer is
responsible for verifying the accuracy of the information and exercising their own judgment when applying it to their
assignments.
Academic Integrity: It is essential for students to maintain academic integrity and follow their institution's policies
regarding plagiarism, citation, and referencing. These study notes should be used as learning tools and sources of
inspiration. Any direct reproduction of the content without proper citation and acknowledgment may be considered
academic misconduct.
Limited Liability: The seller shall not be liable for any direct or indirect damages, losses, or consequences arising from
the use of these notes. This includes, but is not limited to, poor academic performance, penalties, or any other negative
consequences resulting from the application or misuse of the information provided.
Assignment 1 Semester 1 2026
Unique number:
Due Date: 26 March 2026
QUESTION 1 (2 DIFFERENT ANSWERS PROVIDED)
VALIDITY OF PARTNERSHIP BETWEEN THABO AND LERATO
To decide whether a valid partnership exists between Thabo and Lerato, we must examine
the essentialia of a partnership agreement as laid down in Joubert v Tarry and Co 1915 TPD
277 and Co and other relevant case law.
1. Contribution by the Partners
A valid partnership requires that each party contributes something of commercial value.
Thabo contributed R100 000 in cash. However, he insisted this money must be returned to
him even if the business fails. This condition means his contribution is not exposed to
business risk, which disqualifies it as a valid partnership contribution.1 On the other hand,
Lerato contributed her expertise, contacts, and operational work. This satisfies the
requirement of a contribution.1
DISCLAIMER & TERMS OF USE
Educational Aid: These study notes are intended to be used as educational resources and should not be seen as a
replacement for individual research, critical analysis, or professional consultation. Students are encouraged to perform
their own research and seek advice from their instructors or academic advisors for specific assignment guidelines.
Personal Responsibility: While every effort has been made to ensure the accuracy and reliability of the information in
these study notes, the seller does not guarantee the completeness or correctness of all content. The buyer is
responsible for verifying the accuracy of the information and exercising their own judgment when applying it to their
assignments.
Academic Integrity: It is essential for students to maintain academic integrity and follow their institution's policies
regarding plagiarism, citation, and referencing. These study notes should be used as learning tools and sources of
inspiration. Any direct reproduction of the content without proper citation and acknowledgment may be considered
academic misconduct.
Limited Liability: The seller shall not be liable for any direct or indirect damages, losses, or consequences arising from
the use of these notes. This includes, but is not limited to, poor academic performance, penalties, or any other negative
consequences resulting from the application or misuse of the information provided.
