MRL2601 Assignment 1 Semester 2 2024 (867833) - DUE 27 August 2024

MRL2601 Assignment
1 Semester 2 2024
(867833) - DUE 27
August 2024




[Company address]

, MRL2601 Assignment 1 Semester 2 2024 (867833) - DUE 27 August 2024




QUESTION 1

Explain, with reference to relevant prescribed case law for this module, how the court determines

whether a specific business is a partnership. (10)

QUESTION 2

Explain the difference between the two types of trusts envisaged in the Trust Property Control

Act 57 of 1988. (5)

QUESTION 3

Briefly explain what the purpose of the establishment of a trust is and what parties are involved

in a trust.

QUESTION 1: Determining Whether a Business is a Partnership

Introduction A partnership is defined as a legal relationship between two or more persons who

carry on a business with the objective of making a profit. To determine if a business qualifies as

a partnership, courts often refer to specific criteria and relevant case law.

Criteria for Determining a Partnership The courts use several criteria to ascertain whether a

business arrangement constitutes a partnership:

1. Agreement: There must be an agreement, either oral or written, between the parties

involved.