3.

Below are some of the rights of credit providers/grantors, select one that does not fit in the rights of credit providers/grantors?

Select one: a. The right to suspend or close a credit facility, subject to the provisions of the NCA b. The right to seek advice from your lawyer before signing the contract of guarantee c. The right to enforce or terminate an agreement, subject to the provisions of the NCA d. The right to surrender goods

4. Indicate a duty that does not apply to the duty of a Buyer.

Select one: a. To pay the purchase price b. To accept delivery of the merx c. To pay the seller's price d. Receive the purchase price

5. In ancient Roman law, especially during the classical period, there existed many formalities for the formation of a valid contract. Currently in in South African law, and with the omission of the exceptions, the general rule for the formation of a valid contract is that__________________.

Select one: a. Common law lists all formalities for each contract b. no formalities are required c. formalities are required if the parties reside in different provinces d. formalities are required if the parties reside in different countries

6. A __________________is prohibited from granting credit to consumers recklessly.

Select one: a. Vice chancellor b. Credit provider c. Counsellor d. Consumer

7. Name the type of agent that has authority only for a particular purpose that is not part of the ordinary course of a business for such an agent.

Select one: a. General agent b. Mercantile agent c. Broker agent d. Special agent

8. Select which element must not be proved to determine that ownership passed in a contract of sale.

Select one: a. Seller must have been owner at the time of delivery b. Seller must have intended to acquire ownership not on the time of delivery c. Buyer must have intended to acquire ownership at the time of delivery d. Seller must have intended to pass ownership to the buyer on delivery.

Give explanation