QUESTION 1 Tembisa buys a second-hand car from Bargain Buys (Pty) Ltd for R 320 000-00. The contract is in writing and signed by both parties on 1 August 2021. The parties agree that the car must be delivered on 10 August 2021, yet that Tembisa only has to pay the purchase price on 31 August 2021. Bargain Buys, the owner of the vehicle, delivers it to Tembisa on 10 August 2021. On 5 August 2021, and before the motor vehicle is registered in the name of Tembisa at the local municipality, she sells it to her friend Mimi, 30 years old, for R 400 000-00. The parties agree that Mimi has to pay for the motor vehicle on the day of delivery. Payment and delivery occur on 15 August 2021. This contract is also in writing and signed by both parties. All parties are older than 18 years of age and sane. It is not illegal to sell this type of merchandise. 1.1 Explain briefly what the requirements are for a valid contract of sale to be concluded between Tembisa and Mimi. Do NOT just list the requirements. Give a brief description (2 - 5 lines) for each. (8) 1.2 Who is the owner of the car on 16 August 2021? Provide reasons for your answer by referring to both the transactions. (8) 1.3 Now change the facts as provided above as follows: Bargain Buys agrees to deliver the car to Tembisa at her work on 10 August 2021. When the company's driver, Sam, drives the car to her work on 10 August 2021 the car is involved in a collision with a delivery bike. The accident is not caused by Sam's negligence. The motorcycle rider of the delivery bike was drunk. The car is severely damaged, and Sam is injured. Who carries the risk of damage/loss to the car? Provide reasons for your answer. (5) 1.4 Assume now that Tembisa did not have sufficient funds to pay the full price for the car. She paid a 60% deposit and bought it subject to the approval of a bank loan with FNB for the outstanding balance. The loan application has not on date of delivery been approved - Would this change the answer you gave in 1.3 above? Explain briefly. (3) Total Question 1: [24]