COMMERCIAL LAW. STUDENT WORKBOOK Exam Question Pack

Transcription

1 COMMERCIAL LAW STUDENT WORKBOOK Exam Question Pack 2014 Introduction The questions in this workbook all come out of previous test and exam papers. The number in brackets [10] is an indication of the number of marks allocated to the question in that particular paper, but many of the questions have come up a number of times and not always for the same number of marks. These questions are designed to help you prepare for exams but you are reminded that you are required to know all the work as set out in the module guide. Refer to your learning outcomes and scope for guidance.

2 You may wish to use the notes and material available on to assist you. Law of Contract Ensure you can answer all these questions! The section on contract is very important 1. List and briefly explain the requirements for the formation of a valid contract [10] 2. Differentiate between intentional misrepresentation, negligent misrepresentation and innocent misrepresentation [10] 3. The reaching of consensus requires that every party must declare his or her intention to create enforceable rights and duties. The way in which parties make their intention known is through offer and acceptance. In an essay, discuss the requirements for offer and acceptance. [10]

3 4. Differentiate between essentialia, naturalia and incidentalia [10] 5. What are the requirements and remedies for undue influence? [5] 6. Differentiate between unilateral, common and mutual mistake. [5]

4 7. Name and define the three types of contracts and explain their consequences [25] 8. Name and explain the five forms of breach of contract [25]

5 9. Distinguish between a valid, void and voidable contract [10] 10. List five ways a contract can be concluded [5] 11. Discuss the remedies for breach of contract [12] Credit Agreements 1. In terms of the National Credit Act, list five parties who fall under the definition of a consumer [5] 2. List five examples of credit providers in terms of the Act [5]

6 3. List any four rights of a consumer [4] 4. List and explain the three types of credit agreement [10] Insurance 1. Explain the insureds duty to act in good faith [4] 2. Explain the term subrogation [4] 3. Explain what is meant by insurable interest [4] Employment Law

7 1. Discuss the concept of vicarious liability of an employer [10] 2. Sipho was appointed on 1 January 2014 as an independent contractor to Big Bucks Construction Ltd. He has to work every Saturday and Sunday from 08:00 to 16:00 cleaning the company vehicles at Big Bucks premises using their high pressure cleaner and other items they supply. He is paid R250 per day. If some of the vehicles are away on site over the weekend the transport supervisor will get Sipho to work in the MD s garden on one of the days. Sipho comes to you for advice as Big Bucks has cancelled his contract and he has no other source of income. [10] 3. Jack is a driver for Ace Couriers. His boss instructs him to collect a document at Dollar Attorneys at the Waterfront and take it to Big Bank in Adderley Street. He must wait for it to be signed at the bank and then deliver it to Huge Corp in Stellenbosch. He gets to Big Bank at 09:15 but is told the document will only be signed at 11:00. He decides to visit his girlfriend in Greenpoint while he is waiting. After visiting her he is involved in an accident while pulling out of the parking spot at her flat. Discuss whether Ace Couriers can be sued for the damage he caused to the other vehicle. [5]

8 Other Methods of Payment 1. List the requirements to be a holder in due course [8] 2. Define a negotiable instrument (or bill of exchange or cheque) and list its elements [10] 3. What special rights are available to a holder in due course? [5] Introduction to the SA legal system 1. List the sources of SA law indicating if they are authorative or persuasive [12]

9 2. Draw a diagram to illustrate the hierarchy of the South African courts [15]