Contracts play a pivotal role in daily business transactions. A contract has various provisions which are critical to an agreementSample Page and which allow it to be binding in law. It is thus important that a contract be drafted correctly. Mr. Naidoo, wishes to contract with Mr. Sanders. Mr. Sanders shall supply Mr. Naidoo with large specified quantities of cement each month. Mr. Naidoo requires that all legalities and the relevant legal formalities be complied with. Mr. Naidoo seeks your advices on the law of contract. Mr. Naidoo has stated that he has heard that ‘special clauses’ play a fundamental role in contracts. He wishes to add in these clauses as he has heard that it may be extremely beneficial to include them. 1. You are required to outline FIVE (5) special clauses which are found in contracts. You must fully discuss the nature of these clauses and thereafter state why these clauses are important. Mr. Naidoo is mindful of the fact that contractual obligations may not always be fulfilled by parties to the agreement. He wishes to understand the term breach as well as the remedies in law for breach of contract. 2. You are required to fully discuss FIVE (5) remedies for breach of contract which exist. You must provide a practical example of each breach.
Contracts play a pivotal role in daily business transactions. A contract has various provisions which are critical to an agreement and which allow it to be binding in law. It is thus important that a contract be drafted correctly. Mr. Naidoo, wishes to contract with Mr. Sanders. Mr. Sanders shall supply Mr. Naidoo with large specified quantities of cement each month. Mr. Naidoo requires that all legalities and the relevant legal formalities be complied with. Mr. Naidoo seeks your advices on the law of contract. Mr. Naidoo has stated that he has heard that ‘special clauses’ play a fundamental role in contracts. He wishes to add in these clauses as he has heard that it may be extremely beneficial to include them.
1. You are required to outline FIVE (5) special clauses which are found in contracts. You must fully discuss the nature of these clauses and thereafter state why these clauses are important.
Mr. Naidoo is mindful of the fact that contractual obligations may not always be fulfilled by parties to the agreement. He wishes to understand the term breach as well as the remedies in law for breach of contract.
2. You are required to fully discuss FIVE (5) remedies for breach of contract which exist. You must provide a practical example of each breach.