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PVL3702
Law of Contract
PORTFOLIO MEMO
SEMESTER 1 – 2024 - UNISA
UNIQUE NUMBER: -
DUE DATE: - 10th MAY 2024
Includes detailed Footnotes and/or Bibliography.
PORTFOLIO PREVIEW
QUESTION 1
Jack wants to sell his Yamaha speedboat. He approaches Jill, who sells
speedboats for a living, and asks her if she is interested in buying his Yamaha
speedboat. Jill signs a written offer and submits it to Jack for the Yamaha
speedboat for R200 000, in a document titled “Contract of Sale. ” The offer sets out
all the relevant terms, and includes the following clause:….. SEE PAGE 1…
Questions continue…
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, QUESTION 1
Jack wants to sell his Yamaha speedboat. He approaches Jill, who sells
speedboats for a living, and asks her if she is interested in buying his
Yamaha speedboat. Jill signs a written offer and submits it to Jack for the
Yamaha speedboat for R200 000, in a document titled “Contract of Sale. ”
The offer sets out all the relevant terms, and includes the following clause:
“This offer is irrevocable and expires at noon on 5 March 2024, and upon
signature by the seller will indicate his acceptance, as well as the conclusion
of a valid contract of sale. ” On 4 March 2024 Jack signs the contract of sale
document and he inserts the date of his signature therein, but he forgets to
immediately inform Jill that he has done so. Only on 8 March 2024, Jack
informs Jill of his acceptance. Jill indicates to Jack that her offer lapsed on
5 March 2024, and that Jack did not inform her of his acceptance timeously.
Jill further informs Jack that she no longer wants to purchase the Yamaha
speedboat. Jack approaches you for legal advice. Do a detailed analysis and
application of the offer and acceptance requirements and advise Jack if there
is a legally binding contract between him and Jill. You must also advise Jack
about his concern that he only informed Jill after 5 March 2024, that he
accepted Jill’s offer. Discuss fully. Do not apply the Consumer Protection Act
68 of 2008 to this question. [20]
1. Offer and Acceptance:
o For a contract to be valid and binding, there must be an offer and
acceptance.
o The offer is a statement of intent by the offeror (Jack) expressing the
terms and performance to which they are prepared to be bound.
