law of contract study guide for PVL 3702 general overview

Ⓒ 2012 University or south Arrica All rights reservea Printea ana publishea by the University or south Arrica Muckleneuk, Pretoria PVf3702ł1ł2012-2014 98793780 CONTCNT General over ...

Ⓒ 2012 University or south Arrica All rights reservea Printea ana publishea by the University or south Arrica Muckleneuk, Pretoria PVf3702ł1ł2012-2014 98793780 CONTCNT General overview v Skudy unik 1 The nakure of conkrack (inkroduckion ko khe law of conkrack) 1 2 The basis of conkrack 7 3 Cornerskones of conkrack 11 4 The Consumer Prokeckion Ack 15 5 The impack of khe Conskikukion 17 6 Offer and accepkance: khe offer 19 7 Offer and accepkance: khe accepkance 22 8 Packa de conkrahendo: opkions and righks of preference 25 9 Conflicking righks 35 10 Miskake/absence of consensus 38 11 Improperly obkained consensus: inkroduckion 46 12 Misrepresenkakion 48 13 Duress 56 14 Undue influence 59 15 Commercial bribery 62 16 Consumer's righk ko fair and honesk dealing under khe Consumer Prokeckion Ack 64 17 Legaliky: illegal conkracks khak are void 68 18 Legaliky: illegal conkracks khak are valid buk unenforceable 72 19 Formalikies 74 20 Possibiliky 78 21 Cerkainky 80 22 Parkies ko conkracks 83 23 Obligakions and kerms 86 24 Inkerprekakion of conkracks 92 25 Breach of conkrack: inkroduckion 94 26 Mora debikoris 96 27 Mora credikoris 99 28 Posikive malperformance 102 29 Repudiakion 104 30 Prevenkion of performance 106 31 Remedies for breach of conkrack: inkroduckion, and choices, alkernakives and concurrenk remedies 109 32 Remedies for breach of conkrack aimed ak keeping khe conkrack alive: excepkio non adimpleki conkrackus and specific performance 1 2 33 Cancellakion 116 34 Damages 118 35 Inkerdick and declarakion of righks 122 36 Cession 124 37 Inkroduckion ko kerminakion of obligakions and kerminakion by performance 127 38 Terminakion of obligakions by agreemenk 130 39 Terminakion of obligakions by operakion of law 133 GCNCԸ∩L OVCԸVICW In this study guide, we discuss the general principles of the law of contract, which discussion broadly encompasses the principles underlying the law of contract, the influence of the Constitution of the Republic of South Africa, 1996, the requirements for a valid contract, the contents and interpretation of contracts, breach of contract and the remedies for breach of contract, the transfer of claims, ways in which obligations are terminated, and the Consumer Protection Act 68 of 2008. PURPOSE OF MODULE In this module, we cover a wide variety of aspects of general contract law principles. These principles are usually applicable to all contracts, to some degree or another. However, many contracts have their own specific principles and rules which are sometimes particular applications of the general principles and sometimes completely unique to the type of contract in question. Although reference may be made to certain specific contracts in the material for purposes of illustration, the detailed study of specific contracts such as sale, lease or suretyship is not part of this module. Nevertheless, a study of general contract principles is not possible without reference to case studies involving specific types of contracts to which these principles have been applied. The subjects covered in the material are for the most part regulated by the common law, but there are also references to important legislative provisions. This module is essentially aimed at third-year students because of the complexity of the contract law principles involved. The purpose of this module is to teach you the general principles of the law of contract as they have been developed by the courts and, in certain instances, modified by statutory law. The purpose is furthermore to equip you with the necessary knowledge, skills and competencies to interpret and apply the positive law, as well as the statutory provisions where applicable, and to solve practical problems by applying the general principles of the law of contract. If you follow the study guide properly in conjunction with the prescribed textbook and tutorial letters, work through all the activities in the study guide and answer all the questions in the assignment, you should acquire the skills (set out in the learning outcomes below) that we require of you. LEARNINS OUTcOMES A range of tasks in the study guide or tutorial letters, assignments and examinations will show that students have achieved the outcomes. Outcome1 Identify and understand the role of the general principles of the law of contract and selected aspects of the law of obligations in current South African law and everyday life. Assessment criteria .........................................................................continued,.........................................................................