MRL2601
ASSIGNMENT 1 SEMESTER 2 2025
UNIQUE NO.
DUE DATE: 2025
, MRL2601 Assignment 1 (Semester 2, 2025)
Honesty Declaration
I understand what academic dishonesty entails and am aware of Unisa’s policies in this
regard.
I declare that this assignment is my own, original work. Where I have used someone’s
work, I have indicated by using the prescribed style of referencing. Every contribution to
or quotation in this assignment from the work or works of other people has been
referenced according to this style.
I have not allowed and will not allow anyone to copy my work with the intention of
passing it off as his or her own.
I did not make use of another student’s work and submit it as my own.
Name:
Student Number:
Question 1
Definition of Partnership
A partnership is defined as a contract between two or more persons who agree to
carry on a business in common with the objective of making a profit. Each partner
contributes something to the partnership — it can be money, goods, or services — and
shares in the profits and losses of the business (see Butters v Mncora 2012 (4) SA 1
(SCA)).
To determine whether a valid partnership exists between Themba, Ndumi, and Freddy,
we apply the essential elements of a partnership:
1. Each party must bring something into the partnership (contribution).
ASSIGNMENT 1 SEMESTER 2 2025
UNIQUE NO.
DUE DATE: 2025
, MRL2601 Assignment 1 (Semester 2, 2025)
Honesty Declaration
I understand what academic dishonesty entails and am aware of Unisa’s policies in this
regard.
I declare that this assignment is my own, original work. Where I have used someone’s
work, I have indicated by using the prescribed style of referencing. Every contribution to
or quotation in this assignment from the work or works of other people has been
referenced according to this style.
I have not allowed and will not allow anyone to copy my work with the intention of
passing it off as his or her own.
I did not make use of another student’s work and submit it as my own.
Name:
Student Number:
Question 1
Definition of Partnership
A partnership is defined as a contract between two or more persons who agree to
carry on a business in common with the objective of making a profit. Each partner
contributes something to the partnership — it can be money, goods, or services — and
shares in the profits and losses of the business (see Butters v Mncora 2012 (4) SA 1
(SCA)).
To determine whether a valid partnership exists between Themba, Ndumi, and Freddy,
we apply the essential elements of a partnership:
1. Each party must bring something into the partnership (contribution).
