Contract Law Quiz
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Questions and Answers

Which statement accurately describes the difference between legislation and custom?

  • Legislation is unwritten, while custom is formal and written.
  • Both legislation and custom are written laws.
  • Custom is enforced by government, while legislation is not.
  • Legislation is created by a legislative body, whereas custom is based on tradition. (correct)

    • A magistrate has the authority to interpret and apply the law in the same manner as a judge.

    False

    What is the primary aim of criminal proceedings?

    To punish the offender and protect society.

    Legislation is a formal set of rules created by a __________.

    <p>legislative body</p> Signup and view all the answers

    Match the following terms to their correct descriptions:

    <p>Legislation = Formal laws created by a legislative body Custom = Unwritten rules based on tradition Judge = Presides over a court of law Magistrate = Handles minor offenses and preliminary hearings</p> Signup and view all the answers

    Which of the following is NOT an essential element of a sale agreement?

    <p>Witness Signatures</p> Signup and view all the answers

    Capacity refers to the requirement that both parties must be of legal age and sound mind to enter into a contract.

    <p>True</p> Signup and view all the answers

    What is meant by 'Consideration' in a sale agreement?

    <p>The exchange of value, typically money for goods or services.</p> Signup and view all the answers

    For a sale agreement to be valid, the subject matter must be ________ and not violate any laws or public policy.

    <p>legal</p> Signup and view all the answers

    Match the following elements of a sale agreement with their descriptions:

    <p>Offer and Acceptance = Clear agreement between parties Consideration = Exchange of value Capacity = Legally competent individuals Legality = Adherence to laws and public policy</p> Signup and view all the answers

    Which of the following is NOT a requirement for a valid contract?

    <p>Secrecy of Terms</p> Signup and view all the answers

    A contract can be valid even if one party is intoxicated at the time of signing.

    <p>False</p> Signup and view all the answers

    What term describes the exchange of value in a contract?

    <p>Consideration</p> Signup and view all the answers

    For a contract to be legal, its purpose must not violate any _____ or public policies.

    <p>laws</p> Signup and view all the answers

    Match the following contract requirements with their descriptions:

    <p>Offer and Acceptance = Mutual agreement between parties Capacity to Contract = Legal ability to enter a contract Lawful Purpose = Contract must comply with laws Consideration = Exchange of value or promise</p> Signup and view all the answers

    What is the primary goal of an appeal?

    <p>To review and challenge a lower court's decision</p> Signup and view all the answers

    Obiter dictum is a binding precedent on future courts.

    <p>False</p> Signup and view all the answers

    What does ratio decidendi refer to in a court ruling?

    <p>The legal principle or rule that forms the basis of a court's decision.</p> Signup and view all the answers

    A _____ is a process where a higher court examines a lower court's ruling.

    <p>appeal</p> Signup and view all the answers

    Which of the following describes a void contract?

    <p>A contract that cannot be enforced by either party.</p> Signup and view all the answers

    A valid contract must include all essential elements to be legally binding.

    <p>True</p> Signup and view all the answers

    What are four sources of authority in an agency relationship?

    <p>Express authority, implied authority, apparent authority, and statutory authority.</p> Signup and view all the answers

    A __________ contract may be enforced unless one party chooses to void it based on certain conditions.

    <p>voidable</p> Signup and view all the answers

    Match the following elements to their description:

    <p>Offer = Proposal made by one party to another Acceptance = Agreement to the terms of the offer Consideration = Something of value exchanged between parties Contractual capacity = The legal ability to enter into a contract</p> Signup and view all the answers

    All agreements made between parties automatically create a legal contract.

    <p>False</p> Signup and view all the answers

    What is meant by 'Capacity to Contract'?

    <p>The legal ability of parties to enter into a contract, including being of sound mind and legal age.</p> Signup and view all the answers

    For a contract to be valid, all parties must intend to create _____ relations.

    <p>legal</p> Signup and view all the answers

    Match the elements of a valid contract with their descriptions:

    <p>Offer and Acceptance = Clear mutual agreement between parties Intent to Create Legal Relations = Parties intend for the agreement to have legal implications Capacity to Contract = Parties have the legal ability to enter into an agreement Lawful Purpose = The contract is for a legal aim and not illegal activities</p> Signup and view all the answers

    Which type of authority is based on a third party's belief that the agent has authority?

    <p>Apparent Authority</p> Signup and view all the answers

    Inherent authority requires explicit permission from the principal.

    <p>False</p> Signup and view all the answers

    What is the process called when a principal approves an action taken by an agent without explicit authority?

    <p>Ratification</p> Signup and view all the answers

    Apparent authority is based on the principal's actions or representations that lead a _______ to reasonably believe the agent has authority.

    <p>third party</p> Signup and view all the answers

    Match the following sources of authority with their descriptions:

    <p>Actual Authority = Express or implied authority given by the principal Apparent Authority = Authority a third party believes the agent has based on principal's representations Inherent Authority = Authority inherent in the agent's position Ratification = Approval of an action taken by an agent without explicit authority</p> Signup and view all the answers

    What type of contract is considered invalid from the beginning due to its illegal nature?

    <p>Void Contract</p> Signup and view all the answers

    A voidable contract can be enforced unless one party chooses to cancel it.

    <p>True</p> Signup and view all the answers

    Give an example of a valid contract.

    <p>A contract for the purchase of a car between two parties of legal age agreeing on terms.</p> Signup and view all the answers

    A contract that is initially valid but can be set aside due to issues like fraud is called a __________ contract.

    <p>voidable</p> Signup and view all the answers

    Match the following types of contracts with their descriptions:

    <p>Valid Contract = Legally binding agreement with enforceable terms Void Contract = Agreement that is invalid from the beginning Voidable Contract = Initial valid contract that can be canceled Illegal Contract = Contract for a purpose that violates the law</p> Signup and view all the answers

    Which of the following is NOT considered a source of South African law?

    <p>Popular Opinion</p> Signup and view all the answers

    The Constitution of South Africa is subordinate to legislation.

    <p>False</p> Signup and view all the answers

    What type of law develops through judicial decisions and precedents in South Africa?

    <p>Common Law</p> Signup and view all the answers

    Customary law is based on __________ customs and traditions.

    <p>indigenous</p> Signup and view all the answers

    Match the following sources of South African law with their descriptions:

    <p>Legislation = Acts of Parliament and regulations Common Law = Judge-made law and precedents Customary Law = Law based on traditions Constitution = The supreme law governing all other laws</p> Signup and view all the answers

    Study Notes

    Legislation vs Custom

    • Legislation refers to laws created by a legislative body, like a parliament or congress. It's formal, written set of rules.
    • Custom refers to unwritten rules that have been followed for a long time and are accepted as binding. It's based on tradition and practice.

    Judge vs Magistrate

    • Judge is a judicial officer who presides over a court of law. They have the authority to interpret and apply the law.
    • Magistrate is a judicial officer with limited jurisdiction. Often handling minor offenses or preliminary hearings. They are typically appointed by the government.

    Civil Proceedings vs Criminal Proceedings

    • Civil Proceedings are legal actions between private parties, like individuals or corporations. They usually involve disputes over contracts, property or personal injury.
    • Criminal Proceedings are legal actions brought by the state against individuals accused of committing crimes. They aim to punish the offender and protect society.

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    Description

    Test your knowledge on the fundamentals of contract law, including differences between legislation and custom, the essential elements of a sale agreement, and the concept of consideration. This quiz covers key principles that underpin valid contracts and their requirements.

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