Janice wishes to safeguard her business at all given times. She has heard from a friend that there are certain individualswho lack contractual capacity, and there are also individuals who have limited contractual capacity.Janice approaches you for advice.Explain to Janice what the term ‘capacity to act’ refers to. And what the are categories of persons who have LIMITED contractual capacity Contracts are of critical importance especially in daily commercial and business transactions. Agreements are constantlybeing entered into for various purposes. A contract is binding in law and each party must deliver and perform according totheir obligations as mutually agreed upon in the contract.Janice runs a bespoke luxury handbag boutique called La Bougee Boutique in an upmarket suburb of Durban. She buysand sells premium handbags. Janice has created a well-established name for herself in the fashion industry in South Africa.Janice has international clients who purchase handbags from her store.Her supplier Roderigo resides in Cape Town. Janice has a written contract in place with Roderigo which states that Roderigowill provide Janice with premium handbags which he imports from Italy. The contract shall span over a period of 2 years.One of Janice's obligations is to ensure that a part payment of 50% is transferred to Roderigo prior to the delivery of thehandbags. The remainder shall be payed upon the delivery of the goods to her store. One of Roderigo's obligations is toensure that all bags sold to Janice are authentic and suitable for sale.

Contract is a kind of an agreement for any service, company or things which is enforced by law. In…

Janice wishes to safeguard her business at all given times. She has heard from a friend that there are certain individuals who lack contractual capacity, and there are also individuals who have limited contractual capacity. Janice approaches you for advice. Explain to Janice what the term ‘capacity to act’ refers to. And what the are categories of persons who have LIMITED contractual capacity

Janice wishes to safeguard her business at all given times. She has heard from a friend that there are certain individuals who lack contractual capacity, and there are also individuals who have limited contractual capacity. Janice approaches you for advice. Explain to Janice what the term ‘capacity to act’ refers to. And what the are categories of persons who have LIMITED contractual capacity

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter8: Game Theory

Section: Chapter Questions

Problem 8.7P

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