Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi please assist me with these questions in terms of South African Law BUEL6212 ICE TASK #2 (LU2 PARTNERSHIP) Question 2.1 Sheila and Mark have

Hi please assist me with these questions in terms of South African Law

image text in transcribed
BUEL6212 ICE TASK #2 (LU2 PARTNERSHIP) Question 2.1 Sheila and Mark have been married for eight years. They are married in community of property and co-manage an auto spares shop in the CBD. The shop belonged to Sheila's dad, but when he passed, he bequeathed the property and stock to her. Shiela cannot manage the shop without Mark, and they decide to rebrand the store and make it their own. Select the ideal business enterprise for Sheila and Mark, knowing that they share everything for the benefit of their family. In your answer, you must fully explain the concept of universorum bonorum. [ Skl Question 2.2 Jeanine and David have had a partnership for 16 years. They provide transfers and shuttle services for corporates in Cape Town and Johannesburg. Recently, David (situated in Johannesburg) has been moonlighting. He takes trips and does not include them on the partnership's invoices. Jeanine situated in Cape Town) is concerned that the petrol expense has increased but there has been no income to compensate for the expense. She requests that you explain the duties she and David owe each other in respect of the partnership. Include relevant case law in your answer. Note: At least four duties should be discussed in your answer. [ Question 2.3 Sanza has been approached by some varsity friends to join their planned start-up business. The business entails creating an online store to purchase, refurbish and sell vintage clothing. They have all studied different disciplines on campus and they believe that a combination of their talents can make it work. Sanza is an only child and is not used to sharing ideas but likes the idea of safety in numbers for a first business. lan and Xolani are part of the group and suggest a partnership agreement be concluded. This makes Sanza a little nervous and she wants to understand if everyone can contract on behalf of the partnership and what that means for the rest of the partners. Advise Sanza in this regard. [5]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intellectual Property- The Law of Trademarks, Copyrights, Patents, and Trade Secrets

Authors: Deborah E. Bouchoux

3rd Edition

978-1111648572, 1111648573, 1428318364, 978-1428318366

More Books

Students also viewed these Law questions