Exam (elaborations)
Assignment 2 - business law
- Course
- BUSL6221 (BUSL6221)
- Institution
- IIE Varsity College (VC)
Assignment 1 for business law covering chapters 1-6
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Yianoula Wills ST10299099 August 2024BUSL6222 Assignment 1
Contents
Question 1: ............................................................................................................................ 2
1.1) .................................................................................................................................... 2
Introduction: ................................................................................................................... 2
Body: .............................................................................................................................. 2
Conclusion: .................................................................................................................... 4
Question 2: ............................................................................................................................ 4
2.1) .................................................................................................................................... 4
1. Parliament. ................................................................................................................. 4
2. The cabinet. ................................................................................................................ 4
3. The judiciary. ............................................................................................................... 4
2.2) .................................................................................................................................... 4
The differences between civil cases and criminal cases: .................................................. 4
2.3) .................................................................................................................................... 5
Legal rules ...................................................................................................................... 5
Moral rules ..................................................................................................................... 5
Question 3: ........................................................................................................................ 5
References ............................................................................................................................ 7
, Question 1:
1.1)
Introduction:
A contract is a legally binding agreement between two parties or more parties, where they need
to make an agreement on something (Botha, et al., 2019, p. 61). This agreement needs to be
clear to all parties and these parties need to be legally bound by the terms of the contract
(Botha, et al., 2019, p. 61). A signature shown on the contract validates the contract (Botha, et
al., 2019, p. 61).
Body:
A contract is formed when one party, known as the offeror, makes and offer to another party, the
offeree (Botha, et al., 2019, p. 62). The offeror compiles a list of the terms within the contract
and these terms are then presented to the offeree (Botha, et al., 2019, p. 62). When the offeree
accepts these terms, a contract is formed, assuming that the offeror and offeree abide by the
required terms (Botha, et al., 2019, p. 62).
In the scenario given, Selby (the offeror) has reached out to Mbali (the offeree) wanting to form a
contract.
There 5 requirements that need to be met in order for an offer to valid:
1. The offer must be complete (Botha, et al., 2019, p. 63).
The offer needs to contain all the details that the offeror wants (Botha, et al., 2019, p. 63). Selby
has stated that he is willing to purchase Mbali’s house for R3 500 000 if she moves out within 2
weeks.
2. The offer must be clear (Botha, et al., 2019, p. 63).
The offeree needs to fully understand the offeror’s intentions, including the type and aim of the
contract, the amount of money involved, and any specifications listed (Botha, et al., 2019, p.
64). Selby has clearly stated that he will pay R3 500 000 if Mbali moves out in 2 weeks.
3. The offer must be made with the intention of forming a contract (Botha, et al., 2019, p. 63).
The offeror must be bound by the offer, so if the offeree accepts, they form a contract (Botha, et
al., 2019, p. 64). Selby’s signature on the letter showed his intention of wanting to form a
contract.
4. The offer needs to be communicated to the offeree (Botha, et al., 2019, p. 63).
Communication provides the offeree with all the important details of the offer, allowing them to
make a valid decision (Botha, et al., 2019, p. 67). Selby communicated his conditions clearly to
Mbali.
5. The offer must be current and not rejected (Botha, et al., 2019, p. 63).
If the offer has been rejected, then it is no longer valid, and the offeror can no longer move
forward with forming a contract (Botha, et al., 2019, p. 67). Mbali signed the contract, so it is
therefore still valid.
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