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Exercise 12 - Transfer & Termination of Personal Rights.docx (BL11A1)
- Course
- Accounting 200 (BSL11A1)
- Institution
- University Of Johannesburg (UJ)
Tutorial Exercise 12 - Transfer & Termination of Personal Rights
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Business Law 1ATutorial Exercise 12
Transfer and Termination of Personal Rights
16th – 13th May 2016
1. Betsy enters into a contract of sale with Gail. In terms of the contract Betsy will sell her
collection of books to Gail for R2000. Betsy decides that she wants to donate R2000 to a
local charity called “I Care”. She would like to know if it is possible to transfer the
monies owed to her by Gail to the charity, “I Care”. Advise her on the following:
1.1 Identify the method of transferring this right. (1)
1.2 Identify the cedent and the cessionary. (2)
2. List 3 methods of terminating a contractual relationship. (3)
3. List the principles utilised to determine the allocation of payments where the debtor owes
his creditor various sums of money for different contracts and makes payment of a sum
that is insufficient to discharge all outstanding debts without reaching an agreement on
the allocation of such payment. (4)
4. List 2 (two) examples of a merger. (2)
5. Indicate the effect that the following circumstances have on prescription and give a
reason for your answer.
5.1 Keagan, a sixteen year old, sold his iPad Air to Saira for an amount of R12 000. (3)
5.2 Delane sold Kerri a 2013 Toyota 86 for R250 000, however, Kerri failed to pay the
purchase price after she obtained delivery of the car. Delane serves a summons upon
Kerri and claims payment of the purchase price. (2)
6. Provide the periods of prescription for the following:
6.1 A debt arising from a cheque. (1)
6.2 A debt secured by a mortgage bond. (1)
6.3 A debt arising from a lease of land by the state. (1)
TOTAL: 20 MARKS
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