A suretyship is an accessory contract by which one person undertakes liability for another’s debt or financial obligations.

Answer ALL the questions in this section.

Question 1 (30 Marks)

A suretyship is an accessory contract by which one person undertakes liability for another’s debt or financial obligations. You may have been approached by a friend to act as their surety/guarantor for a loan that they wish to take out. 

1.1. In consideration of this decision you would need to understand the duties and rights that a surety would have. Explain the rights and duties of a surety. (10 Marks) 

1.2. Discuss the following rights of surety and provide support for your answer with examples: (20 Marks) 

1.2.1. Benefit of excussion. 

1.2.2. Benefit of division amongst co-sureties. 

1.2.3 Right of recourse against co-sureties.

Question 2 (20 Marks)

Intellectual property law in South Africa refers to all legislation concerning patents, designs, trademarks and copyright protection. It is meant to protect the intellectual property of legal entities, as intellectual property can also carry significant value and is thus vulnerable for exploitation by outside parties.

In terms of intellectual property laws, copyright refers to rights, which authors, writers, musicians and other creators have over their work. These can be best described as protective rights, which encompass the rights to reproduce, perform or prepare a derivative work. 

2.1. Discuss in detail copy right under the following headings: 

2.1.1 Requirements (10 Marks) 

2.1.2 Remedies (10 Marks)

Question 3 (20 Marks) 

The South African Consumer Protection Act (CPA) is aimed at promoting fairness, openness and good business practice between the suppliers of goods or services and consumers of such goods and services. Consumers should be able to choose from a range of products and services, offered at competitive prices, with the assurance of satisfactory quality.

Rights and obligations categorized under the consumer rights to choose the relationship between them is not always discernible. These rights prevent the consumer from being forced to conclude a transaction with a particular supplier or remain in an unfair or inequitable contractual relationship.

Explore the FOUR (4) factors under ‘the right to choose’ and support your answer with examples. Make specific reference to the particular sections in the Consumer Protection Act.

Question 4 (30 Marks)

Insolvency law permits creditors to receive payment of the debts owing to them by the debtor, in an equal orderly manner. Sequestration is defined as the surrender of an individual’s estate to the High Court under the governance of the Insolvency Act. Sequestration affords the debtor the opportunity of starting afresh by absolving the debtor of paying his/her remaining debts once he/she has been rehabilitated.

James and Jane plan to marry in 5 months and have received news that Jane’s estate has been sequestrated. They are very concerned about their financial position. In order for James and Jane to be fully aware of the procedure.

Advise James and Jane on the consequences of Sequestration, by discussing the following:

4.1 What consequences result from a sequestration order? (15 Marks)

4.2 What are the effects of sequestration for the insolvent? (10 Marks)

4.3 What are the effects of sequestration on the insolvents spouse? (5 Marks)

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