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Requirements for a valid contract
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capacity to contract, consensus, legality, possibility of performance and formalities
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terms list

Requirements for a valid contract
capacity to contract, consensus, legality, possibility of performance and formalities
law recognises that person has the legal competence to perform a particular act giving rise to legal consequences
Limited capacity
minor, married persons, mental incapacity and insolvent
person below age of 18 and unmarried
no contractual capacity
children under 7
unassisted contracts
without parental permission
assisted contracts
with parental permission, minor is bound by the contract and if fails, can be sued.
Differences between full and limited contractual capacity
person with capacity-bound. Person with limited capacity, not bound, if not assisted
who can assist in assisted contracts
Guardianship Act, mother and fathers OR mothers/fathers(wedlock/divorce/death)
Parental oversight-assisted contract
parent know that minor intend concluding the contract and what type of contract it is and contract must not contain any terms that were unusual/unexpected
consent is given (when)
before contract is entered into, but can be given after (ratification)
consent is given (how)
tacitly or expressly
case related to assisted contract
Van Dyk v South African Railways and Harbours
express consent
parents indicated consent by some positive action: verbally or writing
tacit consent
'silent consent' - does not object, there acknowledges the contract
minor can apply to the high-court for an order declaring that he or she is a major
facts that a minor is tacitly emancipated
age of minor, still living with parents or seperate residence, financially independant and general relationship between minor and parents
cases regarding tacit emancipation
Dickens v Daley AND Grand Prix Motors v Swart
Minor can escape contract if
Misrepresentation, duress, undue influence or Material breach of contract by other party
Minor cancels (repudiate) contract due inherent prejuidice
restitutio in integrum (all must be back to how it was before the contract) status quo antes
Cases involving minor repudiate a contract
Wood v Davies
Contracts requiring both parents's permission
marriage, sale of minor's immovable property and passport application
Limping contract
gives unequal obligation to minor(not bound) and to major (bound by contract)
parents ratify a contract
authorise its conclusion after the fact > transforms from unassisted contract to assisted contract
parents repudiate a contract
major- returns minor's full performance. minor-returns what he/she had been enriched with
contracts for which no assistance is required
banks-opening a deposit account (age 16) and children over 12 consent to non-invasive medical treatment
3 ways you can get married
In community of property,Out of community of property and Out of community of property with the accrual system
Marriage In Community of Property
assets belonging to each spouse before the marriage, are merged into a single estate upon marriage, and they become joint owners of each other's assets. same for liabilities and property. If get divorced, assets split in half.
Marriage In Community of Property 's contractual capacity
need the consent of their spouses to conclude certain agreements that affect the joint estate .written consent of non-contracting spouse is needed for property/shares. Verbal consent, sale of furniture.
Out of community of property
Each party (spouse) retains, as their own separate property, whatever they acquired before the marriage and whatever they individually acquire during the marriage
who's estate has been sequestrated (order of bankruptcy) by the "High Court"
· If someone is actually sequestrated by the court
estate is placed in the hands of a trustee (all the things are removed). The trustee will sell the assets and divide the proceeds among the creditors

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