5. Formalities applied to Sale Agreement
of land
• Parties
• Property
• Purchase Price
• Other clauses agreed upon by the parties
• Reduced to writing and signed by both
parties
6. Three categories of provisions
1. Essentialia (minimum contents in order for the
contract to be held effective and legally binding)
2. Naturalia (natural provisions which flow
automatically from the type of contract)
3. Incidentalia (terms that relate to the specific needs
of one or both contracting parties)
8. Important to note
1. Lapsing of a contract
2. Counter offer
3. Witnesses
4. Variation of Agreements (Addendum)
9. Breach of Contract
1. Default by debtor
2. Default by creditor
3. Positive Malperformance
4. Repudiation (refusal to perform)
5. Prevention of performance
Section 17 of The Children Act 38 of 2005 describes major status as at age 18 or above.If under the age of seven a parent or legal guardian with locus standi must act on the minor’s behalf. A child seven years and older has limited contractual capacity and must be assisted by a parent or legal guardian.Such assistance includes consent given to conclude a contract; be it prior, at time of formation thereof or ratification thereafter. It will suffice if the guardian had knowledge about the type of contract entered into and raised no objection – Van Dyk v South African Railways and Harbours 1956 (4)SA 410 (W).
Repudiation of a contract means a refusal to perform the duty or obligation owed to the other party.
Positive malperformance Occurs when debtor performs, but performance is defective or contrary to terms of the contract.
