Exam (elaborations)
LAWS 1000A - COMMERCIAL LAW Exam(Revision QnA)
- Course
- Introduction To Law
- Institution
- University Of The Witwatersrand (wits)
COMMERCIAL LAW REVISION Exam, Practice Questions, and Answers pdf.
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LAWS 1000/A - COMMERCIAL LAW FTMultiple choice questions for revision: Memorandum
September 2021
EACH QUESTION BELOW COUNTS FOR 2 MARKS.
QUESTION 1
Which of the following are requirements for a valid legal agreement?
1. Parties must agree on material terms.
2. Parties must reach consensus.
3. Both parties must seriously intend to be bound to the terms of the contract.
4. There must be a valid offer.
5. There must be a valid acceptance.
ANSWERS:
a) All of the above.
b) 4 and 5 only.
c) 1 and 3 only.
d) None of the above.
e) 1, 2 and 3 only.
QUESTION 2
In National and Overseas Distributors Corporation (Pty) Limited v Potato Board 1958 (2) SA 73
(A), which dealt with the granting of a tender, the court held the following:
a) A contracting party can rely on the reasonable or objective appearance of agreement by
the other contracting party.
b) The offeror only revoke an offer before it is accepted.
c) An offer lapses upon the death of the offeror.
d) An acceptance must be unequivocal.
e) As a general rule, an advertisement of goods constitutes an invitation to the public to do
business.
QUESTION 3
Lebo, who lives in Namibia, makes a telephonic offer to her sister Thandi, who lives in
Johannesburg to sell one of her faux fur coats. Thandi accepts telephonically. Where is this
contract concluded?
a) Johannesburg, which is where the offeree lives.
b) Namibia, which is where the offeror lives.
c) Namibia, which is where the offeror heard the acceptance.
d) Johannesburg, which is where the offeree spoke the acceptance.
e) A contract does not come into place because delivery has not yet taken place nor has a
price been agreed too.
QUESTION 4
Precious phoned Beauty on 13 September 2019 and made Beauty an offer whereby Beauty
could buy Precious’ limited-edition Prada handbag for R5 000. On 14 September 2019, Beauty
called Precious to let her know that the amount of R5 000 was too high and that she was only
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