[简答题]Chi, Di and Fi formed an ordinary partnership to run an art gallery. Each of them paid ￡100,000 into the business. As Fi had no prospect of raising any more money it was agreed between them that her maximum liability for any partnership debts would be fi xed at her original contribution of ￡100,000. The partnership agreement specifi cally restricted the scope of the partnership business to the sale of ‘paintings, sculptures and other works of art.’ In January 2010 Chi took ￡10,000 from the partnership’s bank drawn on its overdraft facility. She had told the bank that the money was to fi nance a short-term partnership debt but in fact she used the money to pay for a holiday. In February Di entered into a ￡25,000 contract on behalf of the partnership to buy some books, which she hoped to sell in the gallery. Required: Advise Chi, Di and Fi as to their various rights and liabilities in relation to the operation of the business under partnership law. (10 marks)

[简答题]Chi, Di and Fi formed an ordinary partnership to run an art gallery. Each of them paid $100,000 into the business. As Fi had no prospect of raising any more money it was agreed between them that her maximum liability for any partnership debts would be fi xed at her original contribution of $100,000. The partnership agreement specifi cally restricted the scope of the partnership business to the sale of ‘paintings, sculptures and other works of art.’ In January 2010 Chi took $10,000 from the partnership’s bank drawn on its overdraft facility. She had told the bank that the money was to fi nance a short-term partnership debt but in fact she used the money to pay for a holiday. In February Di entered into a $25,000 contract on behalf of the partnership to buy some books, which she hoped to sell in the gallery. Required: Advise Chi, Di and Fi as to their various rights and liabilities in relation to the operation of the business under partnership law. (10 marks)

[简答题]A&J Associates had been formed as a partnership firm of Ali and his cousin, Javed. Clause 2 of the partnership agreement states ‘All business of the firm shall be transacted with mutual consent of the partners’. The business of the firm is cultivation of crops in Multan. They have routinely purchased fertilisers from King Pesticides Ltd. In September 2011, Ali proposed that they purchase fertilisers from Magic Pesticides Ltd (‘MPL’). Javed opposed this proposal citing MPL’s substantially higher prices. Ali also proposed that the firm expand its business to dealing in used cars. Javed showed some interest but said that he would consider that proposal upon his return from a three month long business trip to Germany. In Javed’s absence, Ali contracted with MPL for the supply of fertilisers. Ali also contracted with Qasim to supply ten used cars. Payments to both MPL and Qasim have not been made and each has brought separate claims for recovery of amounts due against the firm before the l

[简答题]Tunga and Tymon are in an ordinary partnership. Tunga approaches Kudzai and acting in his capacity as a partner borrows $20 billion from him for partnership purposes. Neither Tunga nor the partnership subsequently return the loan when it is due. Kudzai institutes proceedings against the partnership but Tymon opposes the action on the basis that what Tunga did was not binding on him and the partnership. Notwithstanding his opposition judgment is granted against the partnership. In the meantime Kudzai tries to execute against the partnership property but he only recovers $10 billion after which the partnership property is exhausted. Kudzai who is not aware of any properties personally held by Tunga decides to proceed against Tymon’s vast properties, which are known to him. Required: In relation to the law of partnerships, advise on whether: (a) it was proper for a judgment to be granted against the partnership; and,

[简答题]In 2008, Dee, Fi, Gee and Ki formed a private limited company to pursue chemical research. They each took 100 shares in the company and each of them became a director in the company. The articles of association of the company were drawn up to state that Dee, a qualified accountant, was to act as the company secretary for a period of five years, at a yearly salary of ￡20,000. In May 2012, Fi, Gee and Ki discovered that Dee had passed on some research results to a rival company. As a consequence, Fi, Gee and Ki propose the following measures: (a) to remove Dee from the board of directors; (2 marks) (b) to dismiss Dee from her post as company secretary without any payment for the work she has already done, in spite of Dee’s claim that she has a contract of employment by virtue of the articles of association and that she cannot be removed before the five-year period is completed; (4 marks) (c) to alter the articles of association to require Dee to sell her shares to them. (4 marks) R

[简答题]Bothepha, Gorata and Onneile formed a partnership six years ago, although Bothepha was a sleeping partner and never had anything to do with running the business. Two years ago the partnership employed Tumelo as its manager and last year Gorata retired from the partnership. Onneile subsequently has left much of the day-to-day work to Tumelo who has let it be known generally that he has become a partner, although he has not. In May of this year Tumelo entered into two large contracts. The first one was with a longstanding customer, Robert, who had dealt with the partnership for some five years. The second contract was with a new customer, Simon. Both believed Tumelo’s claim that he was a partner in the business. Both contracts have gone badly wrong leaving the partnership still owing a total of P900,000 to both Robert and Simon. Unfortunately the business assets will only cover the first P450,000 of the total debt. Required: Explain the potential liabilities of Bothepha, Gorata, Onne

[单项选择]The two advertising agencies formed an alliance to seek ______ to locate potential customers in times of difficulty.
A. innocently
B. suddenly
C. cooperatively
D. needlessly

[填空题]Which of the following words is formed through derivation

• A. Foolish.
• B. Clockwise.
• C. Babysit.
• D. Earthwar

[单项选择]She has formed an alliance with Sunlines in order to increase BellAir’s
A. involvement in tourism.
B. profit margins.
C. number of flight.

[简答题]In 2008 George and Hillary formed a private company, Intellect (Pty) Ltd, to develop computer games. They each took 100 shares in the company and each of them became a director of the company. Hillary, a qualified attorney, drew up the articles of association of the company stating that she was to act as the company’s attorney for a period of five years, at a salary of R20,000 per year. George has now discovered that Hillary has secretly been selling some of the newly developed games to another rival company for her own account. He therefore no longer wishes Hillary to act as attorney for Intellect (Pty) Ltd. Required: Advise George on the following: (a) Whether Hillary has a contract in terms of the articles of association and the company is obliged to pay her damages for breach of contract. (4 marks)

[简答题]Arend and Company Limited was formed for the purpose of selling tools of all kinds. It was mentioned in the memorandum as the main object of the company. Arend and Company Limited, (a) took loans to build stocks; (2 marks) (b) repaired tools for profit; (2 marks) (c) gave employees loans to buy cars for personal and official use; (2 marks) (d) ran training courses for customers and others instructing the proper use of tools; and (2 marks) (e) expanded its business to sell refrigerators and air conditioners. (2 marks) Required: Explain whether these activities (a) to (e) would be regarded as ‘ultra vires’. (10 marks)

[简答题]Viru, Nana and Timothy formed an ordinary partnership under the Partnership Act 1957 to sell sports goods. The partnership was duly registered as required by law. The partnership deed clearly stipulated that the sole purpose of the partnership is selling only sports goods and nothing else. The partnership set up an attractive shop and began selling sports goods. Each of the partners paid R100,000 into the business. Nana told the other two partners that he did not have more money and it was agreed between them that Nana’s maximum liability for any partnership debt would be fixed at his original contribution of R100,000 only. In January 2010, Viru drew R10,000 from the partnership’s bank, drawn on its overdraft facility, by misrepresenting that the money was urgently needed to finance a short-term partnership debt, and then used the money to pay for a holiday in South Africa. In February 2010, Timothy entered into a R25,000 contract on behalf of the partnership to buy hair relaxers, wh

[简答题]Sim and Sam formed a partnership whose sole business was to purchase well-bred horses that ran in various races in South Africa. They both met as usual at 10 in the morning and decided to purchase a horse named ‘Beauty’ for R50,000. After Sim left, Sam decided to purchase another well-bred horse called ‘Champion’ for R50,000. In the weekly auction, Champion was sold for a net profi t of R1,000,000 while Beauty did not attract any buyer. Sim came to know of it and claimed that half of R1,000,000 that Sam made belonged to him. Alternatively, all the profi ts that Sam made belonged to the partnership. Required: Advise Sim. (10 marks)

[简答题]Both initialisms and acronyms are formed to a certain extent from initial letters. Is there any difference between them Illustrate your point with examples.

[单项选择]Which of the following words is NOT formed through clipping（　）.
A. Dorm
B. motel
C. Gent
D. Zoo