LPL4801
Assignment 1 Semester 2 2023
Unique Number: 571441
Due Date: 25 August 2023
QUESTION 1 (4 DIFFERENT ANSWERS PROVIDED)
1. The key facts of the case Joint Stock v Absa Bank 2008 (4) SA 287 (SCA) are as
follows:
Joint Stock was a company that issued guarantees to Westar Development
(Westar) in the construction of a shopping mall.
Absa Bank was the bank that issued a letter of credit to Joint Stock to secure
the guarantees.
Westar defaulted on its obligations to Joint Stock, resulting in Joint Stock
DISCLAIMER & TERMS having
OF USE to honor the guarantees.
1. Educational Aid: These study notes are designed to serve as educational aids and should not be considered as a
substitute for individual research, critical thinking, or professional guidance. Students are encouraged to
conduct their own extensive research and consult with their instructors or academic advisors for specific
assignment requirements.
2. Personal Responsibility: While every effort has been made to ensure the accuracy and reliability of the
information provided in these study notes, the seller cannot guarantee the completeness or correctness of all
the content. It is the responsibility of the buyer to verify the accuracy of the information and use their own
judgment when applying it to their assignments.
3. Academic Integrity: It is crucial for students to uphold academic integrity and adhere to their institution's
policies and guidelines regarding plagiarism, citation, and referencing. These study notes should be used as a
tool for learning and inspiration, but any direct reproduction of the content without proper acknowledgment and
citation may constitute academic misconduct.
4. Limited Liability: The seller of these study notes shall not be held liable for any direct or indirect damages,
losses, or consequences arising from the use of the notes. This includes, but is not limited to, poor grades,
academic penalties, or any other negative outcomes resulting from the application or misuse of the information
provided.
Assignment 1 Semester 2 2023
Unique Number: 571441
Due Date: 25 August 2023
QUESTION 1 (4 DIFFERENT ANSWERS PROVIDED)
1. The key facts of the case Joint Stock v Absa Bank 2008 (4) SA 287 (SCA) are as
follows:
Joint Stock was a company that issued guarantees to Westar Development
(Westar) in the construction of a shopping mall.
Absa Bank was the bank that issued a letter of credit to Joint Stock to secure
the guarantees.
Westar defaulted on its obligations to Joint Stock, resulting in Joint Stock
DISCLAIMER & TERMS having
OF USE to honor the guarantees.
1. Educational Aid: These study notes are designed to serve as educational aids and should not be considered as a
substitute for individual research, critical thinking, or professional guidance. Students are encouraged to
conduct their own extensive research and consult with their instructors or academic advisors for specific
assignment requirements.
2. Personal Responsibility: While every effort has been made to ensure the accuracy and reliability of the
information provided in these study notes, the seller cannot guarantee the completeness or correctness of all
the content. It is the responsibility of the buyer to verify the accuracy of the information and use their own
judgment when applying it to their assignments.
3. Academic Integrity: It is crucial for students to uphold academic integrity and adhere to their institution's
policies and guidelines regarding plagiarism, citation, and referencing. These study notes should be used as a
tool for learning and inspiration, but any direct reproduction of the content without proper acknowledgment and
citation may constitute academic misconduct.
4. Limited Liability: The seller of these study notes shall not be held liable for any direct or indirect damages,
losses, or consequences arising from the use of the notes. This includes, but is not limited to, poor grades,
academic penalties, or any other negative outcomes resulting from the application or misuse of the information
provided.
