Random Paper 3 questions

Question 1

Is the following a credit agreement: acknowledgement of debt

Answer 1

yes

Question 2

Is the following a credit agreement: charging interest on the late payment of a doctor’s account

Answer 2

yes incidental credit agreement

Question 3

credit agreement? - charging interest on late payment of sectional body corporate levies

Answer 3

no

Question 4

Is the following a credit agreement: late payment of rental in terms of a residential flat

Answer 4

no

Question 5

is the following a credit agreement: a lease agreement on land

Answer 5

no

Question 6

is the following a credit agreement: a suretyship securing the purchase price of goods bought for cash

Answer 6

no - NCA only applies to credit guarantee if it is in respect of a credit facility or credit transaction

Question 7

is the following a credit agreement: a suretyship securing the purchase price of goods bought in terms of an instalment agreement

Answer 7

yes it is guarantees an instalment sale which is a credit transaction in terms of s8 (4) (c) of the NCA

Question 8

how can marriages be contracted and what are the possible marital regimes and propritary effects

Answer 8

• entered into before marriage officer/customary law
• if no ANC = icop
• ANC = can exclude community of property\accrual system applies unless specifically excluded
• can be changed by court order