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Frank James is a foreign national and businessman. He approached Rampa, an accountant and civil servant at the Registrar General Department for assistance to establish a factory. Rampa was ready to help if Frank James offered him 20% of the yearly profit from the business. Subsequently, Frank James and Rampa signed a written agreement for Rampa to have 20% of yearly profit from the business. Frank James paid the 20% for the first two years. In the third and fourth years, Frank James failed to pay the agreed 20% on profit. Rampa insists on enforcing the agreement.
Required: Advise Rampa on the chances of success of his claim. (5 marks)
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Frank James is a foreign national and businessman. He approached Rampa, an accountant and civil servant at the Registrar General Department for assistance to establish a factory. Rampa was ready to help if Frank James offered him 20% of the yearly profit from the business. Subsequently, Frank James and Rampa signed a written agreement for Rampa to have 20% of yearly profit from the business. Frank James paid the 20% for the first two years. In the third and fourth years, Frank James failed to pay the agreed 20% on profit. Rampa insists on enforcing the agreement.
Required: Advise Rampa on the chances of success of his claim. (5 marks)
Find Related Questions by Tags, levels, etc.
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