Entrepreneurial Law- Assignment 01-02 for 2021
Assignment 01 2021
Question 1
Indicate which one of the following is NOT a naturalia (natural consequence) of a
partnership agreement:
(1) The partners share the net losses of the partnership.
(2) The partners own the assets of the partnership as co-owners.
(3) The partners must carry on the partnership business for their joint benefit.
(4) A partner is not entitled to compensation for his or her contribution to the
partnership.
Question 2
Indicate which one of the following is critical for the formation of a partnership:
(1) A founding statement.
(2) A Notice of Incorporation
(3) A Memorandum of Incorporation.
(4) A partnership agreement.
Question 3
In which of the following situations would the actio pro socio NOT be the correct
action to institute between partners?
(1) Partner A wants to apply for an interdict against Partner B to prevent Partner B
from using the partnership assets for personal use.
(2) Partner A wants to apply for a court order declaring which part of the goodwill of
the business he is entitled to after dissolution of the partnership.
(3) Partner A wants to apply for a court order forcing Partner B to comply with the
provisions of the partnership agreement.
(4) Partner A wants to claim dissolution of the partnership because Partner B has
acted in breach of their fiduciary relationship.
Question 4
Indicate which one of the following is critical for the formation of a trust: the following
is critical for the formation of a trust:
, (1) A trust deed.
(2) A Memorandum of Incorporation.
(3) An association agreement.
(4) A founding statement.
Question 5
Mrs Mella is appointed as a trustee of the Olivecrest Business Trust. She is
uncertain about the period for which she must keep the proof of investment
documents after the termination of the trust. Indicate the CORRECT period:
(1) One year.
(2) Two years.
(3) Four years.
(4) Five years.
Question 6
The purpose of a trust is usually to protect the trust property, and to administer and
manage it for the benefit of the …
(1) trustee.
(2) beneficiaries.
(3) Master of the High Court.
(4) founder.
Question 7
Which one of the following is NOT a feature of a business trust?
(1) Only natural persons may be parties to a trust.
(2) The debts of a trust are normally payable out of the trust estate.
(3) A trust may be given perpetual succession.
(4) A trust enjoys greater confidentiality than other forms of enterprise.
Question 8
Indicate which one of the following statements concerning external relationships in
trusts is INCORRECT:
Assignment 01 2021
Question 1
Indicate which one of the following is NOT a naturalia (natural consequence) of a
partnership agreement:
(1) The partners share the net losses of the partnership.
(2) The partners own the assets of the partnership as co-owners.
(3) The partners must carry on the partnership business for their joint benefit.
(4) A partner is not entitled to compensation for his or her contribution to the
partnership.
Question 2
Indicate which one of the following is critical for the formation of a partnership:
(1) A founding statement.
(2) A Notice of Incorporation
(3) A Memorandum of Incorporation.
(4) A partnership agreement.
Question 3
In which of the following situations would the actio pro socio NOT be the correct
action to institute between partners?
(1) Partner A wants to apply for an interdict against Partner B to prevent Partner B
from using the partnership assets for personal use.
(2) Partner A wants to apply for a court order declaring which part of the goodwill of
the business he is entitled to after dissolution of the partnership.
(3) Partner A wants to apply for a court order forcing Partner B to comply with the
provisions of the partnership agreement.
(4) Partner A wants to claim dissolution of the partnership because Partner B has
acted in breach of their fiduciary relationship.
Question 4
Indicate which one of the following is critical for the formation of a trust: the following
is critical for the formation of a trust:
, (1) A trust deed.
(2) A Memorandum of Incorporation.
(3) An association agreement.
(4) A founding statement.
Question 5
Mrs Mella is appointed as a trustee of the Olivecrest Business Trust. She is
uncertain about the period for which she must keep the proof of investment
documents after the termination of the trust. Indicate the CORRECT period:
(1) One year.
(2) Two years.
(3) Four years.
(4) Five years.
Question 6
The purpose of a trust is usually to protect the trust property, and to administer and
manage it for the benefit of the …
(1) trustee.
(2) beneficiaries.
(3) Master of the High Court.
(4) founder.
Question 7
Which one of the following is NOT a feature of a business trust?
(1) Only natural persons may be parties to a trust.
(2) The debts of a trust are normally payable out of the trust estate.
(3) A trust may be given perpetual succession.
(4) A trust enjoys greater confidentiality than other forms of enterprise.
Question 8
Indicate which one of the following statements concerning external relationships in
trusts is INCORRECT:
