MGT 211 Assgnment no 1

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SEMESTER SPRING 2012
Introduction to Business (MGT211)

Due Date: 12 April, 2012 Marks: 20

Assignment:

Mr. Aleem and Mr. Ali are lifelong friends living in same locality since their childhood.

Recently, they have decided to enter into a new business venture but they have not yet decided upon

the nature/kind of business.

Aleem had Rs. 550,000/- which he wanted to invest but he had no desire to take active part in

managing routine matters/affairs of the business while Ali was a handyman and always enjoyed

designing of readymade garments for men as a hobby.

Luckily, a running garments business was available for sale for sum of Rs. 1,500,000/- and they

agreed to buy the business. Ali has Rs. 250,000/- as an initial investment and the remaining amount of

Rs. 700,000/- was to be borrowed from a local bank in order to acquire the business.

They eventually purchased the business and registered under the name “AL-Noor Garments”. As

Aleem would not take part in the affairs of business so Ali will be having full control over the

operations of the business but the profit/loss will be shared equally.

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Requirements:

Question no 1 (06 Marks)

Would the status of Ali be different from Aleem? Briefly explain in the context of types of partners.

Question no 2 (14 Marks)

Being a business consultant you are required to suggest key points to be added in partnership deed for
Al-Noor Garments so that any future conflicts can be avoided.

[Xpert]

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