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KTH NOTES.docx - Study Unit 0: General Principles of...

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Study Unit 0: General Principles of Contract Law and Introduction to Specific ContractsCovered in Week 01Prescribed study materialStudy objectivesi▪ The purpose of this study unit is: i. to ensure that you have a firm grasp of alladministrative matters regarding the module; andiiii. to recap the general principles of contract law, as covered in KTR 211;iii▪ It will be assumed in KTH 220 that students have sound enough knowledge ofthe general principles of contract law. Therefore, the onus is on students toensure that they recap the work covered in KTR 211, including their textbook,class notes, etc.▪ Furthermore, although not prescribed, students are strongly advised to readthrough chapters 3 to 9 ofCommercial Lawas an additional resource to helpensure that they have a solid foundation regarding the general principals ofcontract law, including: o introduction to contract law (chapter 3);o consensus (chapter 4);o contractual capacity (chapter 5);o legality, possibility of performance and certainty (chapter 6);o formalities (chapter 7);o parties to the contract, conditions and related concepts, particular termsand interpretation of contracts (chapter 8); ando breach of contract and termination of contractual relationship (chapter 9).▪ NB: Online Test 1 (to be completed in Week 02) will include some veryelementary questions on the general principles of contract law along withsome questions regarding administrative matters.Study Unit 1: Purchase and SaleNagelet al Commercial Lawchapters 13-15 (part 4)Theme 1: IntroductionStart in Week 02Prescribed study materialCommercial Lawparas 13.01-13.08
Study objectivesAfter completing this study unit, you should be able to know, understand and apply:▪ the definition of a contract of sale;The contract of sale is a specific, nominated, reciprocal agreement to buy and sell, in termsof which the seller has the true intention to deliver a determined or determinable objecttogether with all his rights in the object undisturbed, to the buyer, and the buyer has thetrue intention of paying a determined or determinable price for the object.▪ the general requirements for a valid contract of sale;Consensus; Formalities: Legality; contractual capacity, physical possibility [CCFLP]▪ the essentialia of sale and prescribed case law;Essentialia:Minimum essentialsparties have consensus on;[1]McWilliams v FirstConsolidated Holdings (Pty) Ltd1982 2 SA 1 (A)▪ the distinction between a contract of sale, contract of letting and hiring, contract ofexchange, pledge and letting and hiring of work;a contract of lease in that ownership does not pass to the lessee, whereas a contract of saleis concluded with the intention of passing ownership. Moreover, the contract of lease is of atemporary nature, while a contract of sale is not term-bound.

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Term
Fall
Professor
S van wyk
Tags
SCA

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