Read the fictitious scenario below and answer the question that follows. Two companies Exo Oil (Pty) Ltd, Oil Procure (Pty) Ltd and a private individual Mr. Savage are in the business of the supply of brent crude oil. The two companies and Mr. Savage enter a partnership in which they collectively agree to meet the high demand for the supply of brent crude oil in South Africa. Oil Procure (Pty) Ltd does not reside or operate in South Africa, and has to logistically coordinate with its partners in meeting its supply of brent crude oil. As a result of incoordination and miscommunication between the three parties to the partnership, the supply of brent crude oil was not timeously met and as consequence thereof, the partnership was unable to pay its creditors. Required: Explain the role of the court in terms of the sequestration of the partnership as presented in the fictitious scenario. (8 marks)
Other questions asked by students
2 300 V 4 100 V A 3 F capacitor is charged to a potential...
Cold Stone Creamery has 16 flavors out to pick from Which option shows the correct...
Fred and Winnie O'Callahan have put themselves on a very strict budget. Their goal at...
Which of the following is a property of binomial distributions O The sum of the...
Given that cos 0 3 10 10 and is in Quadrant IV what is sin...
Exercise 22-18 (Algo) Schedule of cash receipts LO P2 Jasper Company has 55%...