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- Volume 2010, Issue 45, 2010
Transactions of the Centre for Business Law - Volume 2010, Issue 45, 2010
Volume 2010, Issue 45, 2010
Author J.J. HenningSource: Transactions of the Centre for Business Law 2010 (2010)More Less
Although some academic writers still deem it meet to refer to the common law partnership as one of the most important forms of enterprise in the business world, it is also clear that the unincorporated partnership has long lost pre-eminence as a vehicle for associated commercial enterprise, largely because of the relative advantages of incorporation and especially since the introduction of the very successful Close Corporations Act 69 of 1984. Hence the predisposition to view the subject of partnership law in the same light as Ebenezer Scrooge regarded his famous partner Jacob Marley in A Christmas Carol, i.e. an unnecessary reminder of times past. If this view is tenable for the law of partnership in the United Kingdom, then surely the comparative tendency must be to consider the topic the South African law of partnership and as the very incarnation of times best forgotten.
Source: Transactions of the Centre for Business Law 2010, pp 20 –62 (2010)More Less
In Roman-Dutch law various kinds of partnership were distinguished, but one of the primary divisions made with reference to Roman law was between universal and particular partnerships. Particular partnerships in Roman-Dutch law were of many kinds, for instance, partnerships in particular things or even in a single piece of property or undertaking only, partnerships for the exercise of some profession or art, civil and commercial or trading partnerships. The latter included partnerships trading in the name of all the partners in common, namely under a collective name or firm, partnerships en commandite, as well as silent, anonymous and undisclosed partnerships.
Source: Transactions of the Centre for Business Law 2010, pp 63 –97 (2010)More Less
A student of South African entrepreneurial law usually encounters the expression "leonine partnership" or societas leonina at quite an early stage of his studies. He will quickly realise that he is not dealing with a distinctive common law form of enterprise, and that, despite the term "societas" in the name, it is not a partnership.
Source: Transactions of the Centre for Business Law 2010, pp 98 –184 (2010)More Less
New developments concerning the sequestration of the estate of a partnership with incorporated members highlight the need to revisit the contrasting judicial interpretations of section 13 of the Insolvency Act 24 of 1936. This is particularly important in view of the recent decision of Commissioner, South African Revenue Services v Hawker Air Services (Pty) Ltd; Commissioner, South African Revenue Service v Hawker Aviation Partnership. In this judgment the Supreme Court of Appeal overruled decisions such as P de V Reklame (Edms) Bpk v Gesamentlike Onderneming van SA Numismatiese Buro (Edms) Bpk en Vitaware (Edms) Bpk and reinstated a considered body of jurisprudence.