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June 2002

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LAWS 356 ― LAW OF BUSINESS ENTITIES JUNE 2002 Page 1 of 3 ANSWER ANY FOUR QUESTIONS Question 1 Joe wishes to set up a business which will provide a delivery service in the Johannesburg area. In order to acquire the use of a delivery van for his business, Joe enters into an agreement with Mary, in terms of which it is agreed that: • Mary will allow Joe to use her delivery van in carrying on his business; • the delivery van will only be driven by Joe; • in return for the use of the delivery van, Mary will be entitled to a monthly commission. The amount of the monthly commission will be 20% of the monthly profits made by the business; • Mary will not participate in the management of the business. (a) Advise Mary whether the agreement entered into between herself and Joe is a partnership agreement; (b) Assume that a partnership has been formed and that Mary enters into ...
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