3.4 Law and Equity act

Question 1

Competition act

Answer 1

deals with agreement in restraint of trade and misleading advertisment

Question 2

real estate service act

Answer 2

most cases a contract dealing with real estate should be in writing to be enforceable. IF not in writing it is NOT void, voidable or illegal only hard to enforce

Question 3

Common law on contract

Answer 3

doesn’t have to be in writing to be valid or enforceable

Question 4

Sales and Purchase 3 Ps

Answer 4

Parties, property, price

Question 5

what is an enforceable offense under the competiton act?

Answer 5

agreements in restraint of trade

Question 6

What is necessary to waive a condition precedent under section 54 of the law and equity act

Answer 6

1. the waiver must be made before any time stipulated for fulfilment of the condition precdient, or within reasonable time.
2. ONLY the party that seeks to waive it can benefit
3. the contract can be performed without the condition precedent being fulfilled