Formalities

Question 1

Formalities (definition)

Answer 1

• external or visible form of contract

- no formalities required for conclusion of valid contract

Question 2

Agreed formalities

Answer 2

• formalities agreed to are prerequisites for validity of contract
• formalities are proof of verbal agreement between parties (default)

Question 3

Statutory requirements/formalities

Answer 3

• certain contract have to comply with certain formalities
• protects consumers against fraud, disputes and uncertainty
  
  • –> non-compliance:
    - -> nullify
    - -> voidable
    - -> valid but unenforceable

Question 4

Influence of CPA on formalities

Answer 4

p. 57 of textbook and p. 66 in pdf

Question 5

Formalities regarding alteration and cancellation

Answer 5

• statutory and agreed formalities necessary for conclusion of contract apply to alterations
• no formalities required for cancellation

Question 6

Proof of written contracts

Answer 6

parol evidence rule

• when contract is reduced to writing
  
  • –> document is exclusive memorial of transaction and is the only evidence that will be recognised in court to prove terms of contract
  • –> no other evidence may be brought forward in court

Question 7

Effect of CPA on rules of proof of written contracts

Answer 7

p. 58 of textbook and p. 67 in pdf