Exam (elaborations)
Mancosa Commercial Law past papers
- Course
- Commercial Law
- Institution
- Management College Of Southern Africa (MANCOSA)
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FINAL ONLINE SUMMATIVE ASSESSMENTBachelor of Commerce in Accounting
PROGRAMME
Bachelor of Commerce in Financial Management
MODULE Commercial Law
YEAR Two (2)
INTAKE January 2024 Semester 2
DATE 08 November 2024
TOTAL MARKS 100
,SECTION A [100 MARKS]
Read the scenario below and answer ALL the questions that follow.
XYZ BANK, THABO AND MARY-ANNE
Thabo, a first-year university student is currently studying toward a Bachelor of Science degree whilst majoring in
biochemistry and microbiology. He approaches XYZ Bank, situated within the Musgrave area, for a student loan to help
him fund his studies. The bank agrees to grant him a loan, however there is a condition attached. The condition is that his
mother, Mary-Anne must stand as surety for the student loan. The loan amount constitutes an amount of R50 000.00 per
annum for the next three years. The loan amount is repayable by Thabo within three years upon completion of the three-
year loan period.
XYZ Bank provides Thabo with a suretyship form and requests for him to get the form signed by his mother who is a
teacher. Thabo explains the loan terms and details to his mother who is happy to stand as surety for the loan, she then
signs the suretyship form. XYZ Bank completes the details on the form. Unfortunately, due to several challenges, Thabo
failed to complete the degree programme, has no source of income and is unable to repay the loan. XYZ Bank now
claims back the money from Mary-Anne in terms of the suretyship agreement.
(Pillay; 2024)
QUESTION 1 (30 Marks)
1.1 Mary-Anne would like to know more about the consequences of suretyship. With reference to the above, (25 Marks)
discuss the duties and rights of the surety.
1.2 Considering the above, explain the legal implications for all parties mentioned above. (5 Marks)
QUESTION 2 (25 Marks)
Mary-Anne and Thabo decided to visit a local store at their nearest mall. The store sells branded cutlery
crockery, hand painted vases and ceramic pots. Whilst browsing through an isle in the store, Mary-Anne
knocks over a ceramic pot that breaks. Mary-Anne becomes deeply upset and immediately apologises to
the store owner who points her to a sign located within the store which states as follows:
Dear: Customer
Remember: “If you break it, you buy it”.
Many Thanks…
2.1 Discuss whether Mary-Anne will be liable to pay for the ceramic pot that broke. In your answer, you are (5 Marks)
required to make reference to the relevant section of the Consumer Protection Act 68 of 2008.
2.2 SA Consumers have rights and can file a complaint against suppliers of goods and services. The
Consumer Protection Act gives the consumer several fundamental consumer rights, in line with the
Constitution of the Republic of South Africa, and the United Nations Guidelines on Consumer Protection.
Discuss the rights associated with consumer protection. (20 Marks)
, QUESTION 3 (20 Marks)
Thabo’s main interest has always been drama. He feels that this is the reason why he could not focus on
and complete his Bachelor of Science degree. He wishes to pursue a career in drama and intends on joining
a college of arts soon. He has written his first play which is based on his own original ideas and thoughts.
He is very anxious and afraid of showing it to anyone as he feels that the originality of his ideas may be
stolen.
Evaluate the above and advise Thabo on how he can ensure that his work is protected.
QUESTION 4 (25 Marks)
Mary-Anne is interested in purchasing a new motor vehicle for Thabo. She intends on using an agent to
conclude the purchase and sale agreement for the motor vehicle as she is always busy with work. The
motor vehicle that she intends on purchasing is also currently in another province. She would like to know
more about the law of agency, the duties of an agent and the termination of the agency relationship.
4.1 Mary-Anne would like to know more about the purpose of agency agreement. Advise her on the (5 Marks)
significance of agency agreements.
4.2 In light of the above, discuss TWO (2) duties of an agent and provide a practical example for each duty (8 Marks)
discussed.
4.3 Mary-Anne would like to know how an agency contract can be terminated. State and briefly discuss ANY (12 Marks)
SIX (6) ways in which the agency contract can be terminated. Provide a practical example for each way
discussed.
END OF PAPER
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