Both in the contract of sale and in the contract of rent there must be established a price (price of the thing being sold or the rental amount) and the price must certain
Need help with this assignment?Get an original answer from a qualified tutor — from $10/page.
Get it written →Both in the contract of sale and in the contract of rent there must be established a price (price of the thing being sold or the rental amount) and the price must certain. The law however provides that the parties may nominate a third person to fix the price. If they do so, they will usually be bound by the price fixed by the third party as such is one of the risks assumed by the parties themselves.
In the light of the above statement discuss the decision in Proud Investments (Pty) Ltd v Lanchem International (Pty) Ltd 1991 3 SA 738 (A) and Genac Properties JHB (Pty) Ltd v NBC Administrators CC 1992 (1) SA 566 (A). Discuss the decisions separately.
(25 MARKS)
Get a plagiarism-free answer to this question
Send us your instructions and we’ll match you with the best writer in your subject.
- 100% human-written, zero AI
- Turnitin report included
- Confidential — we never share your data
- Free revisions & refunds