Name: CLA2601 Assignment 1 Semester 1 Memo | Due 7 April 2025 - StudyPass
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CLA2601 Assignment 1 Semester 1 Memo | Due 7 April 2025

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CLA2601 Assignment 1 Semester 1 | Due 7 April 2025. All questions answered. Question 1 Zane, Bongi, Muthu and Sophy are friends who decide to form a partnership to purchase and sell new and secondhand mobile phones. Sophy and Bongi will provide the capital to purchase the initial stock for the partnership. Zane will be responsible for the repair of mobile phones and Muthu will be responsible for the day-to-day activities regarding the sales, administration and marketing of the mobile phone business. The parties agree that the profit derived from the partnership will be divided equally between Bongi, Sophy and Zane, and that Muthu will receive a monthly salary for his services. Discuss and explain whether the above terms constitute a valid partnership agreement. Refer to relevant case law in your answer. 10 marks Question 2 Explain the formalities and requirements that partners who wish to enter into a partnership agreement must adhere to in order to conclude a valid partnership agreement. Refer to relevant case law where applicable. 5 marks TOTAL: 15 marks