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Mercantile Law N4

MERCANTILE LAW N4Contents

Module 1

Introduction to the Law

Page 1

Unit 1.1

Introduction

1

Unit 1.2

Purpose and function of legal system

5

Unit 1.3

Every individual is the bearer of rights and duties/obligations

6

Unit 1.4

Legal entity

7

Unit 1.5

Sources of SA Law

8

Unit 1.6

Classification of SA Law

12

Unit 1.7

Judicial system in SA

19

     

Module 2

The Law of Contracts

Page 29

Unit 2.1

Contract

29

Unit 2.2

Requirements of valid contracts

29

Unit 2.2.1

Legality of contracts

33

Unit 2.2.2

Legal formalities to comply with

35

Unit 2.2.3

Contractual capacity

36

Unit 2.2.3.1

Minors

38

Unit 2.2.3.2

Married Persons

44

Unit 2.2.3.2

Mentally ill Persons

49

Unit 2.2.3.3

Drunk/intoxicated Persons

50

Unit 2.2.3.4

Prodigals

50

Unit 2.2.3.5

Insolvent Persons

50

Unit 2.2.3.6

Artificial Persons

52

Unit 2.2.4

Serious Intention

53

Unit 2.2.5

The parties must communicate their intentions to each other

54

Unit 2.2.6

The agreement must not be vague

67

Unit 2.2.7

The parties must be of the same mind

72

Unit 2.2.7.1

Consensus

72

Unit 2.2.7.2

Mistakes

73

Unit 2.2.8

Performance must be possible

83

Unit 2.3

Void agreements

86

Unit 2.4

Voidable contracts

90

Unit 2.4.1

Misrepresentation

94

Unit 2.4.2

Duress

102

Unit 2.4.3

Undue influence

104

Unit 2.5

The terms of the contract

105

Unit 2.5.1

Explanation of terms

105

Unit 2.5.2

Type of terms

106

Unit 2.5.3

Content

107

Unit 2.5.4

Conditions

110

Unit 2.5.5

Fictitious fulfillment of conditions

110

Unit 2.5.5

Warranties

111

Unit 2.6

Parties to an agreement

116

Unit 2.7

Breach of contract

120

Unit 2.7.1

Mora debitoris

121

Unit 2.7.2

Mora creditors

123

Unit 2.7.3

Repudiation

124

Unit 2.7.4

Positive malperformance

125

Unit 2.7.5

Prevention of performance

126

Unit 2.7.6

Remedies for breach of contract

129

Unit 2.7.6.1

Exeptio non adempleti contractus

129

Unit 2.7.6.2

Specific performance

130

Unit 2.7.6.3

Cancellation

130

Unit 2.7.6.4

Damages

132

Unit 2.7.6.5

Penalty stipulations

134

Unit 2.7.6.6

Interdict

135

Unit 2.8

Termination of contracts

138

     

Module 3

The Contract of Sales

Page 159

Unit 3.1

Contract of purchase and sale

159

Unit 3.2

Essentials for a contract of purchase and sale

161

Unit 3.2.1

General requirements

161

Unit 3.2.2

Specific requirements

161

Unit 3.2.3

Intention/Agreement

163

Unit 3.2.4

Delivery

164

Unit 3.2.5

The thing/subject matter (article/merx)

165

Unit 3.2.6

Things that cannot be sold

166

Unit 3.2.7

The sale of future things

167

Unit 3.2.8

Purchase price (pretium)

167

Unit 3.2.9

Formalities in the contract of sale

169

Unit 3.2.10

Requirements for ownership to pass to the buyer

170

Unit 3.2.11

Transfer of ownership with cash - credit transactions

172

Unit 3.2.12

Delivery

174

Unit 3.3

Risks in contract of purchase and sales

181

Unit 3.4

Duties/obligations of seller

187

Unit 3.5

Duties/obligations of buyer

190

Unit 3.6

Warranties

193

Unit 3.7

Rights of seller where the buyer is in default

204

Unit 3.8

Special sales

205

     

Module 4

The National Credit Act

Page 201

Unit 4.1

The purpose of the NCA

210

Unit 4.2

Application - all credit agreements

212

Unit 4.3

Classification of credit agreements

218

Unit 4.4

Disclosure of information by credit provider

220

Unit 4.5

Pre-agreement

229

Unit 4.6

The Credit Agreement

232

Unit 4.7

Unlawful provision in the credit agreement

232

Unit 4.8

Unlawful credit agreement

234

Unit 4.9

Financial Charges

236

Unit 4.10

Protection granted to the customer

242

Unit 4.11

Marketing practices

244

Unit 4.12

Termination and enforcement

246

Unit 4.13

Mechanisms to redress over-indebtedness

252

Unit 4.14

Dispute settlement

255

Unit 4.15

Credit Bureaus

257

     

Module 5

Lease of Immovable Property

Page 264

Unit 5.1

Definition and nature of leases

264

Unit 5.2

Essentials of leases

265

Unit 5.3

Formation of leases

268

Unit 5.4

Duration of lease

269

Unit 5.5

Relationship between parties

269

Unit 5.6

Duties/obligations of the landlord

276

Unit 5.7

Duties/obligations of the tenant

279

Unit 5.8

Legal remedies for non-performance of obligations

280

Unit 5.8.1

For the landlord

280

Unit 5.8.2

For the tenant/lessee

286

Unit 5.9

Termination of leases

288

     

Module 6

Contract of Employment

Page 291

Unit 6.1

Definition

291

Unit 6.2

Difference between a servant and independent contractor

292

Unit 6.3

Formation

294

Unit 6.4

Relationship in common law

296

Unit 6.4.1

Duties of employer

296

Unit 6.4.2

Duties of employee

297

Unit 6.5

Relationship between employer and third parties

307

Unit 6.6

Termination of the contract of service

309

Unit 6.7

The Basic Conditions of Employment Act

313

     

Module 7

Evaluation

Page 323

 

Quotes and Orders