CONTRACT LAW PRACTICE
EXAM/COMPREHENSIVE STUDY
GUIDE/ACTUAL EXAM QUESTIONS
WITH WELL DETAILED ANSWERS/
GRADE A+ ASSURED
Save
Terms in this set (112)
this is an agreement between two
Define a
parties that is legally binding and
contract
enforceable.
Under what arms Private law and commercial law
of law do which are governed by common law
contracts fall
under
, Valid contract: this is a contract that
meets all the criteria for it to be
legally binding and enforceable.
Void contract: this is a contract that
is not legally valid from the moment
Define the it was created. It has no legal effect
following (e.g. in cases of illegality, lack of
valid contract consent, lack of capacity) and if the
void contract essential terms are missing
voidable
contract Voidable contract: it is a contract
that was initially valid and
enforceable but one of both parties
have the right to cancel it e.g.
unassisted contracts with minors or
cases of non-consent of trustees of
an insolvent's estate)
-both parties must have contractual
capacity
What are the
where there is no full contractual
requirements for
capacity, parties must be assisted or
a contract to be
consent must be given from relevant
valid
authorities
-activities must be legal
, Minors: age 0-6 have no contractual
capacity (guardians has to carry out
on their behalf) ages 7-17 have
Describe the limited contractual capacity
contractual
capacity of Marriage (ICOP): limited contractual
minors capacity. For many things, they need
married persons to have consent from their spouse
insolvent before entering a contract
persons
mentally Mentally ill and severely intoxicated
ill/intoxicated people have no contractual
persons capacity. Mentally ill persons can
enter into contracts through a
curator (who handles their affairs
and assets)
-one of the parties was intoxicated
Describe what -if the religious leader/ person
circumstances a marrying the couple is not a
religious registered marriage officer
marriage is not
considered valid only exception is with Muslim
and what is the marriages (imam is not a registered
exception marriage officer but it is still
recognized as a valid marriage)
, -marriage in community of property
What are the 3
-marriage out of community of
types of
property
marriages
-accrual
-all property and assets are
considered joint property of both
spouses .
-liabilities of each spouse become
joint liabilities in the single joint
Give estate
characteristics of -in a divorce the estate is divided
marriage in equally
community of when one spouse is sequestrated
porperty (declared insolvent) the other
spouse is too.
- one spouse cannot pledge, cede,
alienate or mortgage assets or
property without the consent/
approval of the other spouse
EXAM/COMPREHENSIVE STUDY
GUIDE/ACTUAL EXAM QUESTIONS
WITH WELL DETAILED ANSWERS/
GRADE A+ ASSURED
Save
Terms in this set (112)
this is an agreement between two
Define a
parties that is legally binding and
contract
enforceable.
Under what arms Private law and commercial law
of law do which are governed by common law
contracts fall
under
, Valid contract: this is a contract that
meets all the criteria for it to be
legally binding and enforceable.
Void contract: this is a contract that
is not legally valid from the moment
Define the it was created. It has no legal effect
following (e.g. in cases of illegality, lack of
valid contract consent, lack of capacity) and if the
void contract essential terms are missing
voidable
contract Voidable contract: it is a contract
that was initially valid and
enforceable but one of both parties
have the right to cancel it e.g.
unassisted contracts with minors or
cases of non-consent of trustees of
an insolvent's estate)
-both parties must have contractual
capacity
What are the
where there is no full contractual
requirements for
capacity, parties must be assisted or
a contract to be
consent must be given from relevant
valid
authorities
-activities must be legal
, Minors: age 0-6 have no contractual
capacity (guardians has to carry out
on their behalf) ages 7-17 have
Describe the limited contractual capacity
contractual
capacity of Marriage (ICOP): limited contractual
minors capacity. For many things, they need
married persons to have consent from their spouse
insolvent before entering a contract
persons
mentally Mentally ill and severely intoxicated
ill/intoxicated people have no contractual
persons capacity. Mentally ill persons can
enter into contracts through a
curator (who handles their affairs
and assets)
-one of the parties was intoxicated
Describe what -if the religious leader/ person
circumstances a marrying the couple is not a
religious registered marriage officer
marriage is not
considered valid only exception is with Muslim
and what is the marriages (imam is not a registered
exception marriage officer but it is still
recognized as a valid marriage)
, -marriage in community of property
What are the 3
-marriage out of community of
types of
property
marriages
-accrual
-all property and assets are
considered joint property of both
spouses .
-liabilities of each spouse become
joint liabilities in the single joint
Give estate
characteristics of -in a divorce the estate is divided
marriage in equally
community of when one spouse is sequestrated
porperty (declared insolvent) the other
spouse is too.
- one spouse cannot pledge, cede,
alienate or mortgage assets or
property without the consent/
approval of the other spouse
