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BSCI Test 3
Law U3
| Term | Definition |
|---|---|
| When is contract of sale formed | when parties who have the requisite intention agree that vendor will sell res vendita or merx to the purchase in exchange for payment of price |
| Res vendita / Merx | Thing sold in contract of sale |
| Essentialia of Contact of Purchase and Sale | 1. Seller must have intention to sell and purchaser has intention to purchase - consensus of nature of contract 2. Consensus on what is to be sold 3. Consensus on monetary performance to be delivered by purchaser |
| Duty of seller | Protect object being sold to deliver object in same condition as agreed upon. If object is damaged due to fault of seller, they will be held liable for damages. |
| Intra commercium | Capable of being sold ex. patent is not capable of being sold |
| Requirements to be intra commercium | Definite or ascertainable & not vague at conclusion of contract. Existing at time of contract o having potential existence |
| Delivery of res vendita possible if: | capable of ownership seller has legal capacity to sell traditio must be made by seller seller must intend to pass on ownership delivery made to buyer or agent buyer has legal capacity to become owner buyer accepts delivery |
| Delivery of immovable property | Delivery isn't possible; transfer by way of registration in Deeds Office |
| Delivery of incorporeals | incorporeal - no physical existence ex debts Transferred by cession |
| Cession | Form of contract where personal rights in intangible things are transferred by means of agreement |
| Delivery of moveable property | Transferred upon delivery of res vendita, paired with payment |
| Who is responsible for accidental damage to merx | Risk passes to buyer when sale is perfecta - when agreement of sale is concluded & before delivery or payment |
| Contractual warranty | Duty of seller to warrant the purchaser against latent defects of the res vedita |
| Duty of purchaser | Payment as agreed upon |
| Remedies when lessor is at fault | Specific performance Rescission Claim of damages Deduction of rent |
| Huur gaat voor koop | Lease takes precedent over sale |
| Interdict | Spoliation order to return of rights is ordeed by court |
| Duties of Lessee | 1. Payment of rent - remedies: mora debitoris; repudiation 2. Proper use of leased property - remedies: interdict 3. Return of property on termination of lease - remedies: court order & interdict |
| Essentialia of insurance contract | - Insurable interest - Risk - Premium - Period of cover |
| Insurable interest | In indemnity insurance the insurable interest must exist at moment loss or damage occurs In non-indemnity insurance the insurable interest must exist at time contract is concluded |
| Duty to disclose | Duty rests on prospective insured Insured must disclose all info that could increase risk Pre-contractual duty Non-compliance = misrepresentation |
| Principal | Insured cannot recover more than actual loss or damages suffered |
| Calculation | Value of thing ensured calculates @ time of damage and place of damages Only intrinsic value must be taken into account - not consequential damages |
| Over insurance / double insurance | Insurable interest is insured for more than actual value |
| Under insurance | Insured for less than actual value |
| Subrogation | Damages to insured interest is caused by third party |
Created by:
CARA.FAURIE
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