commercial law 621

W Raymond Montala is a well-known wholesaler, in Durban and a connoisseur of exotic alcoholic drinks. Immediately after the lodtdown, Raymond experienced a sudden surge in sales of Russian Vodka. a brand that has low sales and is not usually shocked by Raymond. Being an avid drinker of exotic alcohol Raymond decides to approach an international distributor called Vladimir Butln who has a distribution centre in Durban, to negotiate a competitive price for a huge cash sale, he, Raymond intends concluding. If Raymond is successful in reselling the vodka at an excellent price he intends concluding a contract to purchase one hundred bottles per month. Raymond cannot purchase more than a hundred bottles due to fina ncial constraints and storage space. Raymond Montala makes an appointment to meet Vladimir Butin at his office on a Friday afternoon to sample the Russian Vodka and conclude a contractual arrangement that will ensure that he has a constant supply of stock every month for his customers. The sampling process commenced at 3pm and continued longer than anticipated. At about 6pm Raymond realised that the Vodka was stronger than predicted and that he had consumed more than he ought to. He was unable to see clearly or concentrate on the negotiations with Vladimir. As a consequence of the aforementioned situation the following legal matters arise and you are requested to comment on the ensuing issues: - 1.In order for Consensus to exist between the parties to a prospective contract, offer and acceptance must be present. discuss offer and acceptance as the general principles in South African law that can result in the formation of a valid contract. 2.Briey discuss the common law principle of iustus cause or serious intention to conclude a contract. 3.At the end of the meeting with Vladimir Butin, Raymond concluded a sale of one million botties of Russian Vodka to be stored on his premises. Raymond cannot recall reading the terms and conditions or signing the contract- Discuss whether the contract is enforceable in South African law, use case law to support your view. [15) 4.Vladimir misrepresented to Raymond that the Russian vodka was of premium quality when in fact it is referred to in Russia as 'Bootleg" vodka. 4.1 Explain whether Raymond may cancel on the basis of fraudulent misrepresentation if he did not consume any alcohol before concluding the contract. 4.2 Explain the impact of negligent misrepresentation on a contact. SAssuming Vladimir Butin and Raymond Montala had a virtual meeting and decided to conclude their deal wholly or partially by means of data messaging on -line- Assuming further. that the Electronic Communications and Transactions Act 25 0f ZODZIECTA) is the only South African legislation governing the conclusion of the agreement, answer the following questions. 5.1 What is an electronic signature in terms of ECTA. {10) 5.2 Raymond Montaia failed to attend the virtual meeting, Vladimir Butin decides that he will nevertheless proceed to conclude the contract on an automated basis in the absence of Montala. State the requirements as listed in the Electronic Communications and Transactions Act 25 of 2002 for an automated transaction to be valid. 5.3 If Vladimir Butin is in Pietennaritzburg at the time the contract was concluded, what are the requirements in the Electronic Communications and Transactions Act about the time, place of communications. dispatch and receipt of notices in order to ascertain where the contract was concluded