QUESTION 1

1. Mr. Lekalakala is a maize farmer in Mpumalang During October 2020 he contracted with Mr. Maasdorp to sell his next maize crop (due in April 2021) for the lump sum of R90 000 irrelevant of whether it materialises. As a result of heavy hailstorms, the crop only delivered four 10 kg bags of maize during April 2021. What is the Latin name of this type of future sale AND what will be the final purchase price that Mr. Maasdorp must pay?

[2]

2. Mr. Lekalakala is a maize farmer in Mpumalanga. During October 2020 he contracted with Mr. Maasdorp to sell his next maize crop (due in April 2021) for the sum of R100 per 10 kg bag of maize. As a result of heavy hailstorms, the crop only delivered four 10 kg bags of maize during April 2021. What is the Latin name of this type of future sale AND what will be the final purchase price that Mr. Maasdorp must pay?

[2]

3. Mr. Lekalakala is a maize farmer in Mpumalanga. During October 2020 he contracted with LOWVELD WHOLESALERS to sell his next maize crop (due in April 2021) to them. Mr. Maasdorp contracted with LOWVELD WHOLESALERS to buy four 10 kg bags of maize from their store during April 2021. What is the name of this type of future sale?

[1]

QUESTION 2

Mr. Jantjies (a second-hand car dealer) sold his townhouse in Centurion to Captain Slabbert. The contract of sale stipulates that Captain Slabbert will pay a deposit of R300 000 and then secure a bond for the remaining R900 000. In addition to the property sale, they also agreed that Captain Slabbert will buy the Defy washing machine for a cash price of R2000 and the Corsa Lite vehicle for R52 000. They agreed that the vehicle will be paid through vehicle finance at Wesbank.

1. Name the requirements for passing of ownership of the townhouse.

[3]

b. Name the requirements for passing of ownership of the washing machine.

[3]

c. Name the requirements for passing of ownership of the vehicle.

[3]

d. Why is it necessary to determine the difference in passing of ownership?

[1]

QUESTION 3

Discuss the cooling-off period for deeds of alienation in a contract of sale.

[5]

QUESTION 4

Corporal Van der Merwe entered into a contract of lease with Major Dube. They agreed that the Corporal will rent the Majors flat in Sunnyside, Pretoria for a period of nine months. The Corporal will pay the amount of R4000 rent per month.

1. Name the common law duties of Corporal Van der Merwe.

[3]

b. Name the common law duties of Maj Dube.

[3]

QUESTION 5

Lt Jacobs just leased a flat in Johannesburg for her daughter who plans to start studying next year, when she receives a notice from a firm of attorneys informing her that the building was sold and the new owner hereby terminates all contracts of lease with immediate effect. She consults you for advice.

Advise her in full with reference to the maxim huur gaat voor koop (lease goes before sale).

[9]

QUESTION 6

Name the phases of a dispute dealt with by the Rental Housing Tribunal.

[3]

QUESTION 7

The National Credit Act 34 of 2005 applies to a credit agreement if it can be classified as a credit facility, credit transaction or a combination thereof.

a. Explain the concept credit transaction and illustrate your answer with four examples.

[7]

b. Describe two differences between a credit facility and an installment sale transaction.

[2]

c. Explain what is meant by small credit; intermediate credit and large credit.

[3]

QUESTION 8

Name 5 credit transactions that are excluded from the National Credit Act 34 of 2005.

[5]

QUESTION 9

Sgt Radebe realises that she can no longer afford the payments on her car and consults you for advice. After listening to your explanation on over-indebtedness, Sgt Coetzee enquires about the National Credit Regulator (NCR).

Inform her about the main functions of the NCR.

[5