2 A 1.1.2 According to Nagel et al, 2018, p115 "If the agent does not disclose that he is acting on behalf of a principal (even though he enjoys authority), the principal may step forward and claim from the third party. The third party may, likewise, once he comes to know of the principal's existence, claim from either the principal or the agent. This is known as the doctrine of the undisclosed principal. It is also possible that the agent represents to the third party that he is acting on behalf of a principal whilst having no authority from the principal. The third party may then hold the agent personally liable for damages. This liability is founded on the so-called implied warranty of authority". (5 marks) A. The principle of undisclosed principal does not apply to the law of agency. B. The agent has similar powers as compared to a third party. C. Implied warranty of authority can never hold the agent personally liable for damages. D. The law of agency applies only in Roman Dutch Law and not South African Law. E. If an agent fails to disclose that he is acting for his principal, the principle can step forward and claim from third parties. A v BMoodle Question 1 1.1.1 "Synopsis of National Credit Act Not yet answered The National Credit Act protects credit receivers over a wide spectrum. Marked out of The protection extends to natural as well as juristic persons. However, the protection is excluded in the case of juristic 5.00 persons if they conclude large transactions or are large juristic persons. Credit providers must register with the National P Flag credit regulator before they may enter into credit agreements. The Regulator must police the Act and ensure compliance question therewith. A National Consumer Tribunal established by the Act whose functions are, to a certain extent comparable to that of a court The Act covers a variety of credit agreements and regulates the contents thereof. Certain provisions in credit agreements which may be to the detriment of consumers are prohibited, whereas the regulations under the Act prescribe the terms and provisions that have to be included in agreements in order to disclose the details of the transaction to the consumer. The Act attempts to prevent over-indebtedness of consumers and assists them should they run into trouble. Credit providers are obliged to evaluate a prospective debtor's credit worthiness before credit is extended. In addition to this, a debtor who becomes over committed may apply for a debt review and a rescheduling of his debts to enable him to pay them over an extended period of time. Credit bureaus are regulated by the Act, but play an important role at the same time by providing credit providers with information on consumers to enable them to consider the consumers ability to repay the credit applied for". (Nagel et al,2018, p292) (5 marks) A. Credit transactions pertaining to a large transaction or are large juristic persons refers to the Consumer Protection Act only. Any reference by other acts renders the act unenforceable B. According to Nagel et al "The Act covers a variety of credit agreements and regulates the contents thereof", this means that only big corporations such as the banks and the state may include terms in their agreement that can limit or circumvent the provisions of this act. C. According to Nagel et al, in the passage above, "The Act attempts to prevent over-indebtedness of consumers and assists them should they run into trouble". As result of this clause in the Consumer Protection Act, a consumer may not apply for debt review for a debt above R60 000. D. A credit bureau may release personal information about a client without written permission from the data subject. E. A credit bureau provides certain information on consumers to enable credit providers to make informed decisions on the ability of the consumer to repay the debt. MacBook Air o' * OO #