PVL3702 Assignment 1 Semester 2 2026 - Due 3 September 2026

PVL3702 Assignment 1 Semester 2 2026 - Due 3 September 2026 ASSIGNMENT 01 QUESTION: Jack hosts a party at his home which Peter attends. At the party, Peter admires Jack’s collection of paintings. Jack makes a legally valid offer to sell Peter an original painting of Table Mountain for R600 000. The next day Peter meets his friend Themba, and he informs him of Jack’s offer. A few days later Themba also views the same painting, and thereafter Peter and Themba inform Jack that they want to purchase it together, and will pay R300 000 each to Jack for his original painting of Table Mountain. Jack needs to think about it and requests seven (7) days to revert to Peter and Themba, who agree to this. It is only after ten (10) days lapse that Jack informs Peter and Themba that he agrees to sell his original painting of Table Mountain to them for R600 000, which they can pay in equal amounts. Peter and Themba decide not to proceed with the purchase of the painting, and they inform Jack accordingly. Advise Jack if at any stage a valid contract (or contracts) was (or were) concluded in this scenario based on an offer and acceptance analysis. Assume that during all communications, the parties considered Jack’s painting of Table Mountain, the purchase price, and the relevant parties, to constitute all the material terms to discuss. Refer to case law in your answer. For this question, do not discuss the direct reliance theory and the iustus error doctrine. And do not discuss an agreement to agree or an agreement to negotiate. Also do not not apply the Consumer Protection Act 68 of 2008. Note the following: This assignment question carries 10 marks, so only focus specifically on the legal issues which are relevant for this question, because your answer must not exceed one typed page or two written pages. This length restriction must include your footnotes, but does not include your bibliography and cover page, which can be on separate pages.