Class discussion One.pdf - UNIVERSITY OF KWAZULU‐NATAL...

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Unformatted text preview: UNIVERSITY OF KWAZULU‐NATAL: SCHOOL OF LAW LAW OF PROPERTY (LAWS2PRH2/LAWP2PRH2) 2017(2) CLASS DISCUSSION ONE: 21/23 AUGUST 2017 (PART TIME/FULL TIME) NOTE: Students who attend the class discussion must bring answers with them. While all students are expected to attend the discussion – it is not a DP requirement for this module. If you choose to attend you are expected to have prepared and you must have prepared answers with you (typed or written). If you have not prepared or if you choose not to prepare, you may not attend. I have indicated next to each question the amount of time that you will receive for a similar question in a test or exam. This is to guide you in your length of answer. QUESTION ONE (15 minutes) Charlie manufactures large wall‐mounted world maps each worth R750 and he decides to donate 100 of these to primary schools in the province. He does this for the publicity and so that he can obtain a tax benefit. Zinhle is the headmistress of one of these schools and she receives 5 such maps for her school, however she is under the impression that the school is buying the maps at a discounted price of R500 each. Charlie visits the school and hands over the maps to Zinhle. Zinhle has not arranged payment. a) Identity and briefly discuss the two theories of ownership. b) In the light of the facts above and in terms of the two theories, will ownership of the five world maps pass from Charlie to Zinhle’s school? QUESTION TWO (15 minutes) Nuria and George are sitting outside HC1 waiting for a lecture and after chatting, Nuria agrees to buy George’s ipod for R500 and George agrees to this. Nuria hands the R500 to George, but George does not hand over the ipod as it is at his house in Pinetown. In light of the reasoning of the Commissioner of Customs & Excise v Randles, Brothers & Hudson Ltd case, will Nuria immediately become the owner of the ipod? If not, when will she become owner? QUESTION THREE (15 minutes) How would your answer to QUESTION 2 differ if the ipod was actually at the i‐store being repaired and after their agreement, George (in Nuria’s presence) called the i‐store and informed the owner that he had sold the ipod to Nuria, and the owner of the store agreed to this? QUESTION FOUR (15 minutes) Rakesh is in the business of hiring and selling trailers. Rakesh has agreed to sell one of his trailers to Shiloh. They have agreed on a purchase price of R25 000 which will be paid off in ten monthly instalments of R2500, starting on 1 September 2017. Shiloh requires delivery of the trailer immediately as she is going on holiday to Port Shepstone and Rakesh is prepared to identify the trailer to Shiloh in his factory so that she can take the trailer with her. He comes to you for advice though, asking if there is a way for him to protect his ownership rights in the trailer as he is not convinced that Shiloh will pay all the instalments. a) In terms of the common law, and failing any other agreements, when and by what means will Shiloh become the owner of the trailer? b) Advise Rakesh as to how best he can protect his ownership rights in the trailer. QUESTION FIVE (15 minutes) Buhle is the owner of a business. She has rented a photocopy machine from Canon. After meeting with her financial advisor, Buhle realises that the cost of renting the photocopy machine for 5 years will be very expensive as compared with purchasing the machine. Buhle approaches Canon and they enter into an agreement of purchase and sale for the photocopy machine to replace the lease. The photocopier is currently in Buhle’s possession. a) Identify the form of delivery that will be used in this scenario. b) Discuss this type of delivery and the status change of the transferee. ...
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