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Summary LPL4801 Exam Prep Notes
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- University Of South Africa (Unisa)
Essential notes for LPL4801. Crucial to any exam you might have coming up.
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lOMoARcPSD|4703917SALE & Lease Notes 2017
Law of Sale and Lease (University of South Africa)
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, lOMoARcPSD|4703917
Critical Law Studies CC © 1
Sale & Lease Notes – Semester 1 2017
SALE AND LEASE NOTES:
SALE:
Contracts have been governed by common law for a number of years but
today, the governing of contracts have been affected by legislation such as
the National Credit Act or the Consumer Protection Act, depending on the
nature of the contract and the purpose for its enactment.
For example, the purpose of the CPA is to promote and advance the social
and economic welfare of South African consumers – this is any person,
including a juristic person, to whom goods or services are marketed or
supplied in the ordinary course of the suppliers business, unless the
transaction is exempted from the applications of the Act. The CPA also
ensures that in order to protect the consumer, they have 8 Fundamental
rights, which include:
1. The right of equality
2. The right to privacy
3. The right to choose
4. The right to disclosure of information
5. The right to fair & responsible marketing
6. The right to fair & honest dealing
7. Right to fair, just & reasonable terms & conditions
8. Right to fair value, good quality & safety
A transaction will be unfair, unreasonable or unjust if:
(a) it is excessively one-sided;
(b) the terms of the transaction are adverse to the consumer as to be
inequitable;
(c) the consumer relied upon a false, misleading or deceptive
representation, to the detriment of the consumer; or the transaction or
agreement was subject to a term or condition, and the term or condition is
unfair, unreasonable, unjust or unconscionable or the fact, nature and
effect of that term or condition was not drawn to the attention of the
consumer.
COMMON LAW CONTRACTS OF SALE
Characteristics of a contract of sale
Definition: contract of sale is a reciprocal contract in terms of which
the seller undertakes to deliver the thing to the buyer and the buyer
undertakes to pay a sum of money in exchange for the thing.
2 essentialia:
1. The parties must agree that one of them will deliver the thing
CLS notes do not replace prescribed materials. Publishing, sale and/or distribution of CLS notes in any
manner or form is strictly prohibited and constitutes a breach of copyright.
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