ENTREPRENEURIAL LAW
MRL2601
ASSIGNMENT 01
SEMESTER 1 2024
, Question 1
Sello, Thabelo and David want to start a partnership with the aim of selling Solar
batteries. Sello intends to contribute R25 000.00 on condition that should the
partnership fail, Thabelo and David will reimburse him. Thabelo intends to
contribute his expertise as an electrician. David intends to contribute the use of his
Hilux pickup truck. They come to you for advice on whether a partnership
agreement will be valid based on what each of them wants to contribute. Advise
them fully. (In your advice, define a partnership, deal with each contribution and
conclude.)
Partnerships, according to Pezzutto v Dreyer are legal relationships that are established
by means of contracts between two or more individuals, in which each partner agrees to
contribute to the business, which is carried on for the mutual benefit of the parties with
the aim of earning a profit. In terms of a partnership an agreement must contain the
"essentialia" in order to be considered a partnership agreement. 1 A partnership
agreement must contain these essentialia, as outlined in Joubert v Tarry and Co.2
….(More on next page)
1
Pezzutto v Dreyer & others 1992 (3) SA 397 (A).
2
Joubert v Tarry and Co 1915 TPD 277.
MRL2601
ASSIGNMENT 01
SEMESTER 1 2024
, Question 1
Sello, Thabelo and David want to start a partnership with the aim of selling Solar
batteries. Sello intends to contribute R25 000.00 on condition that should the
partnership fail, Thabelo and David will reimburse him. Thabelo intends to
contribute his expertise as an electrician. David intends to contribute the use of his
Hilux pickup truck. They come to you for advice on whether a partnership
agreement will be valid based on what each of them wants to contribute. Advise
them fully. (In your advice, define a partnership, deal with each contribution and
conclude.)
Partnerships, according to Pezzutto v Dreyer are legal relationships that are established
by means of contracts between two or more individuals, in which each partner agrees to
contribute to the business, which is carried on for the mutual benefit of the parties with
the aim of earning a profit. In terms of a partnership an agreement must contain the
"essentialia" in order to be considered a partnership agreement. 1 A partnership
agreement must contain these essentialia, as outlined in Joubert v Tarry and Co.2
….(More on next page)
1
Pezzutto v Dreyer & others 1992 (3) SA 397 (A).
2
Joubert v Tarry and Co 1915 TPD 277.
