CLA1501 - Commercial Law IA at University Of South Africa | Flashcards & Summaries

Lernmaterialien für CLA1501 - Commercial Law IA an der University of South Africa

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TESTE DEIN WISSEN

In terms of a written agreement, Conrad purchased a house from Leonard for R650 000. Conrad paid an amount of R100 000 as deposit. The balance of the purchase price was to be covered by a loan from the bank payable on registration. Owing to fault on Leonard’s part, the transfer of the house into Conrad’s name was delayed. Conrad sent a letter to Leonard demanding that transfer be effected within two months, and he would then pay the balance of the purchase price. Conrad also stated in the letter that he would rescind from the contract and demand repayment of the deposit and claim damages if Leonard failed to co-operate.

Which ONE of the following statements is CORRECT?

Lösung anzeigen
TESTE DEIN WISSEN

Conrad is not entitled to send a letter of demand to Leonard, because Conrad has not paid the agreed purchase price for the house in full.

Lösung ausblenden
TESTE DEIN WISSEN

Robert wants to rent a house belonging to Johnny. Johnny tells Robert about the terms of his offer. Robert is not sure whether he should accept the offer or not and he asks for more time to consider it. They agree that the offer will remain open for a period of one week. The following day Johnny is approached by Masedi who also wants to rent the house.

Which ONE of the following statements is CORRECT?

Lösung anzeigen
TESTE DEIN WISSEN

Johnny may let the house to Masedi because there is no contract that forbids him from doing so.


Lösung ausblenden
TESTE DEIN WISSEN
Ike owes Vera R20 000 which she lent him two months ago.
Which ONE of the following statements is CORRECT?
Lösung anzeigen
TESTE DEIN WISSEN

Vera may refuse to accept payment of Ike’s debt if it is not tendered by Ike himself.

Lösung ausblenden
TESTE DEIN WISSEN

Which ONE of the following is NOT a requirement for a customary rule to be recognised as a legal rule?

Lösung anzeigen
TESTE DEIN WISSEN

It must have existed for a long time and be reasonable.

Lösung ausblenden
TESTE DEIN WISSEN

Solomon works on a Welkom goldmine. Before leaving his home in Limpopo he asked his nephew, Bheki, to look after his cattle during his absence and gave him permission to use the cattle. Everyone in their village now considers the cattle to be Bheki’s as Solomon has been gone for so long. Bheki uses the dung of the cattle to fertilise his fields and he sells and consumes their milk.

Which ONE of the following statements is CORRECT under the circumstances?

Lösung anzeigen
TESTE DEIN WISSEN

Bheki is the usufructuary of the cattle.

Lösung ausblenden
TESTE DEIN WISSEN

Vic and Tahira married out of community of property on 1 November 1999.

Which ONE of the following statements is CORRECT?

Lösung anzeigen
TESTE DEIN WISSEN

Vic and Tahira have a joint estate.

Lösung ausblenden
TESTE DEIN WISSEN

The following parties are involved in contractual negotiations for the establishment of the first multi million rand virtual reality theme park in Pretoria called “Cyber Pretoria 1”.

Which ONE of the parties will NOT have the capacity to contract independently?

Lösung anzeigen
TESTE DEIN WISSEN

Arthur, a Jamaican businessman who is domiciled and resident in Jamaica

Lösung ausblenden
TESTE DEIN WISSEN

Penelope and Hugh conclude a written agreement for the sale of a three piece lounge suite. At a later stage Hugh discovers that he accidentally wrote "a four piece lounge suite".

Which ONE of the following statements is CORRECT?

Lösung anzeigen
TESTE DEIN WISSEN

Hugh will have to deliver a four piece suite because the mistake occurred as a result of his negligence.

Lösung ausblenden
TESTE DEIN WISSEN

Clarence wants to purchase a stand from June only if the beach is visible from the stand. June is not sure whether the beach is visible from the stand. They agree that Clarence will purchase the stand if the beach is visible from the stand.

What is such a contractual term called?

Lösung anzeigen
TESTE DEIN WISSEN

a warranty

Lösung ausblenden
TESTE DEIN WISSEN

On her birthday Liz receives an expensive watch as a gift from her Aunt Martha. Four months later Aunt Martha informs Liz that she wants the watch back.

What is the legal position?

Lösung anzeigen
TESTE DEIN WISSEN

Aunt Martha is not entitled to take the watch back, because a valid contract of donation was concluded.

Lösung ausblenden
TESTE DEIN WISSEN

After ten years in a business partnership with Paul, which sells tyres, Tim wants to terminate the partnership. Since Tim’s business partner, Paul will be entitled to half of the assets of the partnership at the time of termination, Tim concludes a contract with a professional killer, Mr Assassin, in terms of which he will pay Mr Assassin the amount of R20 000 to kill Paul. The next day Paul dies of natural causes.

Which ONE of the following statements is CORRECT?

Lösung anzeigen
TESTE DEIN WISSEN

Mr Assassin is not entitled to payment in terms of the contract because performance has become impossible.

Lösung ausblenden
TESTE DEIN WISSEN

Kwena and Richard negotiated the sale of a house. Kwena represented to Richard that the house had a sound foundation and that there was no danger of the walls starting to crack. They both signed the contract and two days later, after a heavy thunderstorm, three walls cracked as a result of the house having been built on clay.

Which ONE of the following statements is CORRECT?

Lösung anzeigen
TESTE DEIN WISSEN

The agreement between Kwena and Richard is void on grounds of misrepresentation.

Lösung ausblenden
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Q:

In terms of a written agreement, Conrad purchased a house from Leonard for R650 000. Conrad paid an amount of R100 000 as deposit. The balance of the purchase price was to be covered by a loan from the bank payable on registration. Owing to fault on Leonard’s part, the transfer of the house into Conrad’s name was delayed. Conrad sent a letter to Leonard demanding that transfer be effected within two months, and he would then pay the balance of the purchase price. Conrad also stated in the letter that he would rescind from the contract and demand repayment of the deposit and claim damages if Leonard failed to co-operate.

Which ONE of the following statements is CORRECT?

A:

Conrad is not entitled to send a letter of demand to Leonard, because Conrad has not paid the agreed purchase price for the house in full.

Q:

Robert wants to rent a house belonging to Johnny. Johnny tells Robert about the terms of his offer. Robert is not sure whether he should accept the offer or not and he asks for more time to consider it. They agree that the offer will remain open for a period of one week. The following day Johnny is approached by Masedi who also wants to rent the house.

Which ONE of the following statements is CORRECT?

A:

Johnny may let the house to Masedi because there is no contract that forbids him from doing so.


Q:
Ike owes Vera R20 000 which she lent him two months ago.
Which ONE of the following statements is CORRECT?
A:

Vera may refuse to accept payment of Ike’s debt if it is not tendered by Ike himself.

Q:

Which ONE of the following is NOT a requirement for a customary rule to be recognised as a legal rule?

A:

It must have existed for a long time and be reasonable.

Q:

Solomon works on a Welkom goldmine. Before leaving his home in Limpopo he asked his nephew, Bheki, to look after his cattle during his absence and gave him permission to use the cattle. Everyone in their village now considers the cattle to be Bheki’s as Solomon has been gone for so long. Bheki uses the dung of the cattle to fertilise his fields and he sells and consumes their milk.

Which ONE of the following statements is CORRECT under the circumstances?

A:

Bheki is the usufructuary of the cattle.

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Q:

Vic and Tahira married out of community of property on 1 November 1999.

Which ONE of the following statements is CORRECT?

A:

Vic and Tahira have a joint estate.

Q:

The following parties are involved in contractual negotiations for the establishment of the first multi million rand virtual reality theme park in Pretoria called “Cyber Pretoria 1”.

Which ONE of the parties will NOT have the capacity to contract independently?

A:

Arthur, a Jamaican businessman who is domiciled and resident in Jamaica

Q:

Penelope and Hugh conclude a written agreement for the sale of a three piece lounge suite. At a later stage Hugh discovers that he accidentally wrote "a four piece lounge suite".

Which ONE of the following statements is CORRECT?

A:

Hugh will have to deliver a four piece suite because the mistake occurred as a result of his negligence.

Q:

Clarence wants to purchase a stand from June only if the beach is visible from the stand. June is not sure whether the beach is visible from the stand. They agree that Clarence will purchase the stand if the beach is visible from the stand.

What is such a contractual term called?

A:

a warranty

Q:

On her birthday Liz receives an expensive watch as a gift from her Aunt Martha. Four months later Aunt Martha informs Liz that she wants the watch back.

What is the legal position?

A:

Aunt Martha is not entitled to take the watch back, because a valid contract of donation was concluded.

Q:

After ten years in a business partnership with Paul, which sells tyres, Tim wants to terminate the partnership. Since Tim’s business partner, Paul will be entitled to half of the assets of the partnership at the time of termination, Tim concludes a contract with a professional killer, Mr Assassin, in terms of which he will pay Mr Assassin the amount of R20 000 to kill Paul. The next day Paul dies of natural causes.

Which ONE of the following statements is CORRECT?

A:

Mr Assassin is not entitled to payment in terms of the contract because performance has become impossible.

Q:

Kwena and Richard negotiated the sale of a house. Kwena represented to Richard that the house had a sound foundation and that there was no danger of the walls starting to crack. They both signed the contract and two days later, after a heavy thunderstorm, three walls cracked as a result of the house having been built on clay.

Which ONE of the following statements is CORRECT?

A:

The agreement between Kwena and Richard is void on grounds of misrepresentation.

CLA1501 - Commercial Law IA

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