Exam (elaborations)
LPL4805 Assignment 1 Semester 2 [Answers] - Due: 31 August 2023
- Course
- LPL4805
- Institution
- University Of South Africa (Unisa)
LPL4805 Assignment 1 Semester 2 (Answers) - Due: 31 August 2023
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LPL4805ASSIGNMENT 1 (SEMESTER 2)
DUE DATE: 31 August 2023
Written Assignment Submission Guidelines:
Please ensure that your assignment is submitted electronically through the myUnisa platform no later than
31 August 2023. Kindly note that fax or email submissions will not be accepted.
NB: Assignment submitted to the lecturer(s) through email will not be considered.
QUESTION 1:
Y wishes to let a section of his farm on a long-term basis to X. Name the essential requirements
that have to be met before the lease contract will be accepted for registration.
ANSWER:
Essential Requirements for Lease Contract Registration
Before a lease contract can be accepted for registration, the following essential requirements
need to be met:
1. Consensus: Both parties, the lessor (Y) and the lessee (X), must agree on the terms and
conditions of the lease.
2. Capacity: Both parties must have the legal capacity to enter into the lease agreement.
3. Definite Object: The property or section of the farm to be leased must be clearly identified
and described in the agreement.
4. Consideration: There must be an agreed-upon consideration or rent that the lessee will
pay the lessor for the use of the property.
5. Duration: The lease agreement must specify the duration of the lease, whether it's short-
term or long-term.
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