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Business Law > BER 210 Semester Test 1 > Flashcards

BER 210 Semester Test 1 Flashcards

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1
Q

South African law is made up of…

A

Roman-Dutch law plus English Law

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2
Q

What is a law?

A

-Rules to obey
-Enforced by the state
-Peremptory or regulatory

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3
Q

What is a right?

A

Legally protected interests enforceable against everyone

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4
Q

What is Corpus Iuris Civilis

A

The codification of the Roman Law got Emperor Justinian

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5
Q

What does Corpus Iuris Civilis consist of

A

-The Codex
-The Digesta
-The Institutiones
-The Novellae

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6
Q

What are the different types of rights?

A

-Real rights
-Personal rights
-Intellectual Property Rights
-Personality Rights

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7
Q

What are the sources of laws (where do laws come from)

A

-Customs
-Legislation
-Courts

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8
Q

What are the requirements for customs before they can be an enforceable legal rule?

A

-Be reasonable
-Have existed for a long time
-Be generally recognised in the community
-Be clear and certain

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9
Q

What are legislative bodies in SA divided into?

A

-Parliament
-Provincial legislation
-Subordinate legislative bodies

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10
Q

What are the 2 forms of courts

A

-Civil court
-Criminal court

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11
Q

What’s the structure and jurisdiction of courts in SA (highest to lowest)

A

-Constitutional Courts
-Supreme Court of Appeal
-Magistrates court
-Small claims court

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12
Q

What is a contract

A

An agreement that creates an obligation/obligations between the parties to the agreement

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13
Q

What is an obligation

A

It consists of a right and corresponding duty

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14
Q

What are unilateral obligations

A

One where one party has a right and the other has only duties

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15
Q

What are bilateral obligations

A

When both parties in a contract have duties and rights

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16
Q

What are the foundations of a contract?

A
  1. Freedom of contract
  2. Sanctity of contacts (pacta sunt servanda)
  3. Good faith (bona fides)
  4. Privity of contract
17
Q

What are the requirements for a valid contract?

A
  1. Consensus
  2. Contractual capacity
  3. Legality/Lawfulness
  4. Possibility of performance
  5. Certainty
  6. Formalities
18
Q

What are the requirements for a valid offer

A

-offer must be complete and comprehensive
-offer must be clear and certain
-No formalities unless prescribed by legislation

19
Q

How can offers be terminated

A

-Rejection
-Revocation
-Lapsing of time
-Death of offeror/offeree before acceptance

20
Q

Factors that influence consensus

A

-Mistake/Error
-Misrepresentation
-Duress
-Undue influence

21
Q

What is contractual capacity

A

Refers to the competences to create rights and duties by concluding a contract w/ another person

22
Q

Ppl w/o contractual capacity

A

-Mentally ill ppl
-Infants (under 7yrs)
-Ppl under the influence of ‘cohol/drugs

23
Q

Ppl w/ limited contractual capacity

A

-Minors (7-18yrs)
-Married ppl
-Prodigals
-Insolvent ppl

24
Q

Ppl w/ full contractual capacity

A

Everyone outside the above listed except criminals

25
Q

Causes of uncertainty

A

-Use of vague and indefinite language
-Failure to agree on material particulars

26
Q

What is breach of contract?

A

-When 1 (or both) parties fail to honour their contractual obligations
-When a party refuses/fails to perform as they agreed to

27
Q

What are the forms of breaches of contracts?

A
  1. Delay by debtor (mora debitoris)
  2. Delay by creditor (mora creditoris)
  3. Positive malperformance
  4. Repudiation
  5. Performance rendered impossible/Prevention of performance
28
Q

What is positive malperformance

A

-When a debtor performs but poorly/incompletely/defectively

29
Q

What’s repudiation

A

-When (w/o lawful cause) a party claims they are no longer bound by the contract

30
Q

What are remedies for breaches in contract

A
  1. Special performance
  2. Cancellation
  3. Contractual damages
  4. Interdict
31
Q

What is an interdict?

A

A court order preventing the wrongdoing party from breaching

32
Q

What are contractual damages

A

Innocent party can sue if financial loss is suffered

33
Q

What is special performance

A

When a court orders person in breach to do what they promised to do

34
Q

How can you terminate contractual obligations

A
  1. Full and proper performance
  2. By agreement
  3. By operation of law
35
Q

What is a release

A

Agreement that sets the debtor free

Business Law (6 decks)

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