MRL2601 ASSIGNMENT 1 SEMESTER 2 2025 – FULLY ANSWERED (DUE 13 AUGUST 2025)

MRL2601 Assignment 1 Semester 2 Memo | Due 13 August 2025. All questions fully answered.

Question 1

Themba, Ndumi and Freddy want to start a partnership with the aim of selling Solar batteries. Sello intends to contribute R25 000.00 on condition that should the partnership fail, Ndumi and Freddy will reimburse him. Ndumi intends to contribute his expertise as an electrician. Freddy intends to contribute the use of his Hilux pickup truck. They come to you for advice on whether a partnership agreement will be valid based on what each of them wants to contribute. Advise them fully. (In your advice, define a partnership, deal with each contribution and conclude.)

Question 2

Ramiz is a trustee of a business involved in the retail of computer equipment. Although the trust deed makes no provision for it, Ramiz buys a delivery vehicle to transport the computer equipment.

2.1 Given the requirement that a trustee must preserve trust assets, indicate whether Ramiz has acted lawfully.

2.2 Explain to Ramiz what his other duties as trustee are by listing five of the other duties of a trustee.

TOTAL: 20