PVL3702 PORTFOLIO MEMO - MAY/JUNE 2024 - SEMESTER 1 - UNISA - DUE DATE :- 10th MAY 2024 (DETAILED ANSWERS WITH REFERENCES - DISTINCTION GUARANTEED!)
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 b...
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.
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