PVL3702 STUDY NOTES

lOMoAR cPSD| 48433225




Page 1 of 88

, lOMoAR cPSD| 48433225




Page 2 of 88


LAW OF CONTRACT
STUDY UNIT 1

1. Distinguish between a contract and unjustified enrichment. (5)
A contract is an agreement entered into with the intention of creating an .
obligation or obligations
is therefore a fact, . From a contract, obligation obligations .
an event arises an or

Undue enrichment is a principle of our law that no-one should unjustifiedly be
enriched at the expense of another .

Here undue ent means that there is no valid legal ground for the one's
enrichm obtaining a benefit at the
expense of the .
other
A contract




2. State the requirements for the formation of a valid contract. (5)
(1) There must be agreement (consensus) or ostensible agreement between the
parties.
(2) The parties must have capacity to act.
(3) The performance must be possible at the time the contract is entered into.
(4) The conclusion of the contract, the performance
lawful (the and the object of the contracting parties must be other
contract words be legal).
must in must be complied with.
(5) Constitutive
formalities


Downloaded by Vincent master ()