Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your best friend Mike wants to buy a car in terms of an instalment sale transaction in terms of the Credit Agreements Act 75 /

image text in transcribed

Your best friend Mike wants to buy a car in terms of an instalment sale transaction in terms of the Credit Agreements Act 75 / 1980, but it unsure about the validity of certain of the causes. He knows that you are a top Business Law student and asks you for advice. Indicate to Mike whether the following provisions are valid or not. Motivate your answers. 3.1 Mike will not be required to pay a deposit but will trade in his old car. 3.2 Mike will buy the car voetstoots. 3.3 The credit grantor is authorized to repossess the car without notice in the event of Mike failing to make a payment on the due date. Two marks each [6]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of International Financial Accounting And Reporting

Authors: Roger Hussey

1st Edition

9814280232, 9789814280235

More Books

Students also viewed these Accounting questions

Question

List the seven reasons projects fail.

Answered: 1 week ago

Question

Is the sample selected related to the target population?

Answered: 1 week ago