PVL3702 ASSIGNMENT 1 2026 - DISTINCTION | Due 31 March 2026

PVL3702 ASSIGNMENT 1 Semester 1 2026 ASSIGNMENT 01 QUESTION: Jabu owns a jewelry store. He recently bought what he believed to be a genuine diamond ring for R50 000 from one of his suppliers. Raymond visits the store and offers Jabu R80 000 for the same ring, and Jabu accepts the offer. The contract was concluded on the basis that the sale item is a genuine diamond ring. Subsequently, when Raymond visits his friend Themba, who specializes in diamond trading, Themba informs him that the ring is a fake and it is not a genuine diamond ring. It turns out that the ring was made with inferior materials which were artificial, and even though the end product appears to look like a diamond ring, it is not. Discuss fully the type of mistake that is relevant to this question and advise Raymond if the contract he concluded with Jabu is valid or void. Refer to case law in your answer. Do not discuss latent defects and breach of contract. And do not apply the Consumer Protection Act 68 of 2008 to this question. 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.