BUSINESS LAW SUMMARISED GUIDE
• Understand basic legal principles relevant to business.
• Apply legal concepts in contracts, business forms, and
regulatory compliance.
Topic 1: Introduction to Law
• Courts in SA: Magistrates’ → High Court → Supreme Court of
Appeal → Constitutional Court.
• Science of Law: Study of legal systems, sources, and reasoning.
Topic 2: General Principles of Contract Law
• Consensus: Must be clear agreement (offer + acceptance)
• Capacity: Parties must be legally able to contract (e.g., age, mental
soundness).
• Possibility: Contract must be physically and legally possible.
• Formalities: Some contracts require writing (e.g., land sale).
• Terms: Express, implied, or tacit clauses.
, • Interpretation: Courts interpret based on wording and context.
• Breach: Non-performance or defective performance.
• Remedies: Cancellation, damages, specific performance.
• Transfer/Termination: Personal rights can be transferred; contracts
can end by performance or agreement.
Topic 3: Contract of Sale
• Buyer & Seller Duties: Delivery and payment
• Ownership Transfer: Happens when goods are delivered with intent
to transfer.
• Risk Passing: Buyer bears risk once goods are ready for delivery.
• Understand basic legal principles relevant to business.
• Apply legal concepts in contracts, business forms, and
regulatory compliance.
Topic 1: Introduction to Law
• Courts in SA: Magistrates’ → High Court → Supreme Court of
Appeal → Constitutional Court.
• Science of Law: Study of legal systems, sources, and reasoning.
Topic 2: General Principles of Contract Law
• Consensus: Must be clear agreement (offer + acceptance)
• Capacity: Parties must be legally able to contract (e.g., age, mental
soundness).
• Possibility: Contract must be physically and legally possible.
• Formalities: Some contracts require writing (e.g., land sale).
• Terms: Express, implied, or tacit clauses.
, • Interpretation: Courts interpret based on wording and context.
• Breach: Non-performance or defective performance.
• Remedies: Cancellation, damages, specific performance.
• Transfer/Termination: Personal rights can be transferred; contracts
can end by performance or agreement.
Topic 3: Contract of Sale
• Buyer & Seller Duties: Delivery and payment
• Ownership Transfer: Happens when goods are delivered with intent
to transfer.
• Risk Passing: Buyer bears risk once goods are ready for delivery.
