Flashcards
Contract Law 1
Cards in this deck (24)
- 1Define a contract of saleA specific
agreement to buy and sell, in terms of which the seller has the true intention to deliver a determined or determinable thing together with all his/her rights in the thing undisturbed to the buyer, and the buyer has the true intention of paying a determined or determinable price for the thing - 2Name the 3 requirements for a contract of sale1.The intention of the seller to sell and the buyer to buy
2.The thing sold
3.The purchase price - 3What is Res aliena?A thing of which the seller is not the owner
- 4What is the Essentialia of the contract of sale?The purchase price
Must reach consensus on the purchase price.
Requirements for a valid price:
Agreement on the price
Price must be certain
Price must consist of acceptable currency - 5What is essentialia?Parties enter into a specific contract
- 6What is Incidentalia?An agreement between parties for their own purposes and needs
- 7Name 3 Higher courts?1. Constitutional court
2. Supreme court of appeal
3. High courts - 8Define Warranty against eviction?Any action by a third party who has a greater right in the thing sold than the buyer, and who deprives the buyer of the total or partial use, enjoyment and disposal of the thing sold
- 9What is Pre- emptive right?A personal right by virtue of agreement, in terms of which a person entitled, may lay claim to the following: If the owner should one day decide to sell the property concerned, the holder of the pre-emptive right will have the first and exclusive choice of deciding whether he wants to conclude a deed of sale with the grantor or not
- 10NamNe the Essentialia of contract of lease1. The property which is to be leased.
2. That temporary use and enjoyment of the property will be given to the lessee by the lessor.
3. The lessee will pay the lessor a determined or determinable amount of compensation(rent) in respect of the use and enjoyment of the property. - 11Name the duties of a lessor when a contract of lease came into existance1. Deliver the property
2. Maintain the property
3. Provide the use and enjoyment of the property
4. Payment of taxes - 12What is sublease?Where the lessee leases the property to another person
- 13"Huur gaat voor koop"The new owner becomes the lessor in the place of the previous owner, and acquires the rights and duties in terms of the existing contract of lease
- 14Name 6 credit transactionsPawn transactions
Discount transactions
Incidental credit agreements
Installment agreements
Mortgage agreements
Secured loans
Lease - 15Name 2 types of formalitiesAgreed formalities
Statutory formalities - 16Name the forms of breach of a contractMora debitoris
Mora creditoris
Positive malperformance
Repudiation/Refusal
Performance rendered impossible - 17What is the Remedies of breach of a contract?1. Operation of law:
- Claim for specific damage
- Cancellation
- Damages
2. Agreed remedies:
-Normal fulfillment,cancellation or the recovery of damages
- Normal intent to exclude or replace the common law remedies - 18Common Law Remedies- Claims for fulfillment
- Interdict - 19Termination of a contractual relationshipPerformance
Contract
Merger
Impossibility of Performance
Rehabilitation after sequestration
Prescription - 20What forms SA law?Constitution law
Legislation law
Common law
Indigious customary law - 21Name the terms of a contractConditions
Terms
Modal clauses
Express consensus
Guarantees
Assumptions - 22Requirements of a CONSENSUSWell known
Applied universally
Reasonable & Necessary
Specific content
Well established - 23Requirements of a CONTRACTConsensus
Legality
Physical Possibility
Formalities
Capable Capacity - 24What can cause a contract to become voidable?Duress
Under Influence
Misrepresentation
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- Flashcards on Contract Law 1, created by Pieter Bosman on 29/10/2015.
- Created by
- Pieter Bosman
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