1. Introduction to law – module 1 : part 2
Business / Commercial Law
Introduction to law – module 1 : part 2

2. The Law of Contract
A contract “can be described as an agreement concluded by two or more persons with the serious intention of creating legally enforceable obligations”.
Havenga (2010)

3. Legal Obligations The right of the creditor to claim performance
The debtors duty to perform

4. Requirements of a valid contract
Consensus
Capacity to Act
Legality
Possibility of Performance
Formalities

5. Consensus
A meeting of the minds
Mistake
Duress
Undue influence

6. Contractual Capacity
Age
Mental state
Prodigals
Under influence

7. Legality
Contra bones mores
Ex turpi causa
In par delictum

8. Possibility of performance
Initial impossibility
Contract void
Supervening impossibility
Voidable if objectively impossible
Casus fortuitus
Vis maior

9. Formalities General rule Types of formalities Examples In writing
Registered
Notarised
Examples

10. Breach of Contract Types of breach Repudiation Default by creditor
Default by debtor
Prevention of performance
Positive malperformance

11. Breach of Contract
Remedies
Damages
Specific performance

12. Termination of a Contract
Performance
Release
Novation
Merger
Impossibility
Set-off
Prescription
Insolvency
Death

13. Specific Contracts Sale Essentialia Passing of risk & ownership Price
Thing
Passing of risk & ownership

14. Specific Contracts Lease Essentials Duty of landlord Duty of tenant
Huur gaat voor koop
Long lease

15. Credit Agreements National Credit Act Exclusions Types of transactions
Credit transactions
Credit facilities
Credit guarantees
Credit agreements
Aim of the Act

16. Suretyships What it is Formalities Special defences Excussion Division
Cession of action

17. Insurance Indemnity insurance Non-indemnity insurance
Concept of insurable interest
Duty of utmost good faith
Subrogation

18. Intellectual property law
Copyright Act of 1978
Patents Act of 1978
Trademarks Act of 1993
Competition Law
Public & private

19. Financial markets Long term & short term insurance Acts Banks Act
Insider Trading Act
FAIS Act
FIC Act