Question Two (2) [25 Marks]

a) Profit companies continue to exist in company law, with that said, list and distinguish (with all abbreviations) five profit companies. (10 Marks)

b) Sally Smith has recently endorsed all relevant documents to support her application to start her own private company. Sally is only left with the certificate to commence business to be issued to her by the Registrar of companies in Windhoek, an Australian supplier is interested in supplying Sally with oak timber for her new business. Sally successfully partners with the Australian supplier, meanwhile the certificate to commence business has not yet been issued to Sally. Discuss and motivate your answer as to whether the above contract constitutes a preincorporation contract or not, fully supporting your answer. (15 Marks)