Richard Smiths is a 29 year old single male who resides at No 28 Waxbill Court, Long Island Street, Rocky Crest, Windhoek. Richard saw the most exquisite lounge suite at Nictus costing a whooping N$ 25 000.00, made of leather and really wants to purchase it, however he does not have enough money to purchase it on cash and hears that you are a commercial law expert willing to assist him. 

Instruction: 

Set out the options availed to Richard in purchasing the lounge suite, you may also refer to the relevant Act and relevant case law in support of your answer.

In answering all the problem questions, it will be essential to include the following information in your response to the question: 

i) The particular issue(s) raised in the question. 

ii) Indicate the relevant area(s) of law to apply to the issues. 

iii) List and explain the relevant cases to use as authority to support your discussion.