MRL2601 Assignment 2 Due 15 April 2024

MRL2601 Assignment 2 Due 15 April 2024

This is an ordinary written or typed assignment. Do not use a mark-reading card. Answering this question gives you practice in answering the type of problem- or discuss-type questions that you may expect in the examination. Your answer per question should not exceed one page. You may reference your sources as you wish, i.e. in-text, or in footnotes. A bibliography is not needed but remember to include your Honesty Declaration Form.

QUESTION 1

1.1 Lesedi and Simphiwe registered Furnmax (Pty) Ltd, a company that sells office equipment. The Memorandum of Incorporation of Furnmax (Pty) Ltd indicates that the board of directors, consisting of Lesedi, Simphiwe, Carol and Precious, can appoint a managing director who would be authorised to contract on the company’s behalf. However, the board has never formally appointed a managing director. Nevertheless, Lesedi, with the full know