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COL3704 Assignment 3 (COMPLETE) Semester 2 2023 (386365) - DUE 15 September 2023
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COL3704 Assignment 3 (COMPLETE) Semester 2 2023 () - DUE 15 September 2023
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COL3704Assignment 3
(COMPLETE
Semester 2
2023 (386365)
- DUE 15
September
2023
, QUESTION 1: On 13 March, Alvereen Leonard approached three different credit providers
and applied for credit. First, she approached Easy Loans and applied for a R5 000 loan to pay
her outstanding utility bills. Next, she approached a second-hand car dealer, Cars at Cost, and
purchased a R10 000 car on credit. She then went to ABC Loans for a loan of R20 000 to pay
for her daughter’s school fees. Financial assessments were only conducted at Cars at Cost and
ABC Loans. She did not include any information about the two former applications during
the assessment that was done by ABC Loans. Alvereen was granted credit by all three
providers. Subsequent to this, she started defaulting on her payments. Explain whether any of
these credit agreements will be deemed reckless. (8)
SECTION B QUESTION 1 Read the following scenario and discuss whether the debt Anthea
owes had been collected as prescribed by the Debt Collectors Act 114 of 1998. Alvereen
Leonard owns ABC Estate Agency which specialises in residential rentals. Anthea Wagener
enters into an agreement with ABC Estate Agency to rent the property situated at 123 River
Road for R8 000 per month. Anthea pays her rent on time each month until she is retrenched.
She then fails to pay her rent for three months. Michelle, who is employed by ABC Estate
Agency as the office manager, follows up with Anthea. For two months, she phones Anthea
repeatedly at home and at work. She threatens to have Anthea blacklisted at all the credit
bureaus and to institute legal action against her. A month later, she gets Anthea to sign an
acknowledgement of debt form and then proceeds to collect the arrear rental from her. In
addition, Anthea is charged a collection fee by ABC Estate Agency. (7)
SECTION C QUESTION 1 Your general local store is running a competition whereby you
can win an all-expenses paid trip to Abu Dhabi to watch the world Formula One race. All you
need to do to enter the competition is to put your till slip with your contact number in a big
box at the exit of the store. Answer the following questions: (a) What is meant by a
“promotional competition”? (4) (b) What must be stated in an offer to participate in a
promotional competition? (Can be in any medium, document or advertisement circulated in
the area of the competition)? (5) QUESTION 2 List five (5) instances where the Consumer
Protection Act will not apply. (5) QUESTION 3 Your aunt Molly has a problem with
cockroaches in her house. She is very stingy and keeps leftover food for months on end that
attracts the cockroaches. She buys pesticides from her local hardware store to kill the
cockroaches. National legislation prohibits the disposal of the container in which the
pesticide is bought into a common waste collection system. Knowing that you are a
Consumer Law student, she approaches you for advice as to what she should do with the
empty container. Advise Aunt Molly. (5) QUESTION 4 A producer, importer, distributor or
retailer is liable for harm caused to any person by the supply of unsafe goods, product failure,
defect or hazardous or inadequate instructions or warnings. Discuss the various forms of
harm that is included in this provision. (5)
SECTION D QUESTION 1 Briefly explain why certain types of stokvels may be compared
to ordinary insurance. (6)
SECTION E QUESTION 1 One of the essential features of an insurance contract is that it is
a contract of the utmost good faith (a contract uberrimae fidei). Discuss what this term means
and whether the statement is correct. (5)
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