MRL2601(ENTREPRENEURIAL
LAW) ASSIGNMENT 1
SOLUTIONS SEMESTER 1, 2023
, QUESTION 1
Types of partnership
(i) Universal and particular partnerships. There are 2 types of universal
partnerships: the societas universorum bonorum and the societas
universorum quae ex quastu veniunt.
(ii) Ordinary and extraordinary partnerships. There are 3 types of extraordinary
partnerships: the anonymous partnership (also called the “silent
partnership”), the partnership en commandite, and special partnerships
QUESTION 2
(a) Since the co-operation of at least two parties is required for the formation of a
contract, a partnership cannot be created unilaterally. A testator can therefore
not establish a partnership between his heirs by means of his will.
Thus a valid partnership cannot be in terms of Petrus will where he bequeaths
the farm on condition that they farm in partnership.
(b) A partnership may be described as a contractual relationship between two or
more, but usually not more than 20 persons (called partners) who operate a
lawful business with the object of making a profit. Partners may be natural or
juristic persons.
Thus Lenta and Maxfed (Pty) can conclude a valid partnership agreement.
(c) A partnership is nothing more than a specific type of contract. A valid contract
must be lawful, parties must have contractual capacity, they must reach an
agreement (consensus), and the agreed performance must be possible. A
partnership must comply with the law and cannot conduct business that is
prohibited by law or public policy.
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LAW) ASSIGNMENT 1
SOLUTIONS SEMESTER 1, 2023
, QUESTION 1
Types of partnership
(i) Universal and particular partnerships. There are 2 types of universal
partnerships: the societas universorum bonorum and the societas
universorum quae ex quastu veniunt.
(ii) Ordinary and extraordinary partnerships. There are 3 types of extraordinary
partnerships: the anonymous partnership (also called the “silent
partnership”), the partnership en commandite, and special partnerships
QUESTION 2
(a) Since the co-operation of at least two parties is required for the formation of a
contract, a partnership cannot be created unilaterally. A testator can therefore
not establish a partnership between his heirs by means of his will.
Thus a valid partnership cannot be in terms of Petrus will where he bequeaths
the farm on condition that they farm in partnership.
(b) A partnership may be described as a contractual relationship between two or
more, but usually not more than 20 persons (called partners) who operate a
lawful business with the object of making a profit. Partners may be natural or
juristic persons.
Thus Lenta and Maxfed (Pty) can conclude a valid partnership agreement.
(c) A partnership is nothing more than a specific type of contract. A valid contract
must be lawful, parties must have contractual capacity, they must reach an
agreement (consensus), and the agreed performance must be possible. A
partnership must comply with the law and cannot conduct business that is
prohibited by law or public policy.
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