Law of Contract: Understanding Contracts - Mr. LK Thutse

An agreement entered into by two or more parties with the intention of creating a legal obligation or legal obligations.

Serious intention to create legally enforceable obligations.

It is a question of fact determined with reference to available evidence.

<p>Where X leads Y into reasonable belief that she does not seriously intend to bind herself, the law will protect the reasonable belief and uphold the contract, despite the absence of a genuine contract.</p> Signup and view all the answers

<p>No, a contract is an agreement, but not all agreements are contracts.</p> Signup and view all the answers

<p>No, social or domestic arrangements do not intend their agreements to give rise to legally binding obligations.</p> Signup and view all the answers

<p>The primary goal of marriage is not to create obligations.</p> Signup and view all the answers

<p>Consensus - The minds of the parties must meet on all material aspects of their agreement.</p> Signup and view all the answers

<p>Capacity refers to the parties having the necessary ability to contract.</p> Signup and view all the answers

<p>Formalities refer to the format in which the contract is required to be.</p> Signup and view all the answers

<p>A judgment issued based on an agreement between parties to a lawsuit.</p> Signup and view all the answers

<p>Contracts entered into by organs of state are generally treated like any other in the commercial domain.</p> Signup and view all the answers

<p>Direct horizontal application involves attacking a contract on the basis of non-compliance with the Constitution without reference to common law, while indirect horizontal application exerts the influence of the Constitution on contract law in a dispute between private parties.</p> Signup and view all the answers

<p>The purpose of section 39(2) is to ensure that the common law is infused with the values of the Bill of Rights.</p> Signup and view all the answers

<p>Contracts are subject to constitutional control by ensuring that contractual terms are consistent with the policy objects of the Constitution.</p> Signup and view all the answers

<p>Consensus must be proven through the actual subjective agreement or the apparent objective agreement of the parties.</p> Signup and view all the answers

<p>Consensus is reached through a process of communication involving the declaration of wills by the parties, either through words, conduct, or silence.</p> Signup and view all the answers

<p>Actual subjective agreement is when parties reach consensus based on their own understanding, while apparent objective agreement occurs when one party is under the reasonable belief that an agreement has been reached.</p> Signup and view all the answers

<p>Personal right</p> Signup and view all the answers

<p>Civil obligations are enforceable through legal action, while natural obligations are not enforceable.</p> Signup and view all the answers

<p>Contract, Delict, and Enrichment</p> Signup and view all the answers

<p>Corporeal and Incorporeal things</p> Signup and view all the answers

<p>Common law and Statute</p> Signup and view all the answers

<p>Supremacy of the Constitution</p> Signup and view all the answers

<p>Create legal certainty by ensuring that people fulfill their promises.</p> Signup and view all the answers

<p>Sanctity of contract and Good faith (Fairness in contractual dealings).</p> Signup and view all the answers

<p>Majority of transactions are concluded by way of SFC (95% estimate).</p> Signup and view all the answers

<p>Freedom of contract vs. Good faith.</p> Signup and view all the answers

<p>Freedom and sanctity of contract.</p> Signup and view all the answers