This book deals comprehensively with the principles of contract law in general and the most common nominative contracts in the commercial sector. No part of this work may be reproduced in any form or by any means without the written permission of the publisher. Any unauthorized reproduction of this work constitutes a violation of copyright and engages the civil and criminal liability of the manufacturer. Although every effort has been made to ensure that the information published in this work is accurate, the publishers, authors, authors, contributors, publishers and printers accept no liability for any loss or damage suffered by any person as a result of reliance on the information contained therein. Editor-in-chief: Marjorie Guy Technical editor: Salome Govender Printed in South Africa by Interpak Books Pietermaritzburg Preface Since the publication of the fourth edition of Commercial Law in 2011, changes in several areas of law have necessitated the publication of this fifth edition. New legislation and case law were updated to the extent possible at the end of August 2015. Commercial law aims to comprehensively cover the main principles of contract law in general and of the most common contracts in the commercial sector, such as credit and sale agreements, leasing, transport, security, pledge, mortgage, employment, arbitration, rental and leases, and insurance. This book contains a useful introductory discussion of the origin and creation of law and the legal system, followed by a discussion of the sources of legal obligations such as contract, tort and unjust enrichment, which is necessary to better understand the following discussion of contract law. Since agents often play a role in making contracts, this book contains a brief discussion of agency law. The law relating to payment and credit instruments such as bills of exchange, cheques and promissory notes, as well as electronic payment mechanisms, are also discussed. Key principles of insolvency law, including the settlement of companies and related parties, are discussed. In addition, the essential principles of individual and collective labour law are included in the book.
There are also sections on alternative dispute resolution and consumer protection law. From the beginning, this book has been structured in such a way that it is ideally suited for non-legal students of universities, technical universities and business schools, both in terms of content and depth of presentation. In combination with a casebook, it should also offer a comprehensive package for law students. In this regard, specific contracts have been launched before the courts (LexisNexis 2010). Even lawyers who need a brief overview of these areas of law will find this book a useful starting point. It is also of utmost importance to note that commercial law is the companion of Delport New Entrepreneurial Law (2014). The latter deals comprehensively with the basic principles of the law that governs the main forms of society. THE AUTHORS December 2015 v Table of Contents Page Preface ………. v Part I – General introduction 1 2 The South African legal system and its history …………………. Legislation and Administration of Justice ……….. 3 11 Part Two – General principles of contract law 3 4 5 6 7 8 9 Introduction to contract law ……………. Consensus……………………………………………………………………………………………………………………………………………
Contractual capacity ……………. Legality, enforcement capacity and security ……….. Formalities…………………………………………………………………………………………………………………………………………… Contracting Parties, related conditions and conditions, special conditions and interpretation of contracts …………… Breach of contract and termination of the contractual relationship ……………….. 21 47 75 91 103 109 125 Part Three – Agency 10 11 12 Introduction to Agency Law ……………. The customer …………………. The intermediary……………. 161 171 179 Part Four – Buying and Selling 13 14 15 General Introduction to the Law of Purchase and Sale ……….. Obligations of the seller ……………………… Obligations of the buyer………… 195 213 237 Fifth part – Rental 16 17 18 Conclusion of the lease ………………….
Obligations of the owner and the tenant ……………. Various aspects of tenancy law …………………. 245 261 279 Part VI – Credit agreements 19 20 21 22 23 General and historical introduction ……………. Law enforcement and conclusion of credit agreements …………………. Consumer credit institutions and regulatory matters ………………….. Rights and obligations of the parties …………………. Financial matters, dispute settlement and debt collection …………………. 289 295 305 313 325 Part VII – Insurance and transport 24 25 26 Introduction to insurance law and insurance contracts ………..
Specific aspects of insurance contracts and civil and non-civil liability insurance ……………