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The South African law of sale is an area of the legal system in that country that describes rules applicable to a contract of sale (or, to be more specific, purchase and sale, or emptio venditio), generally described as a contract whereby one person agrees to deliver to another the free possession of a thing in return for a price in money.
A contract in South Africa is classified as an obligationary agreement—it creates enforceable obligations—and ought therefore to be distinguished from liberatory agreements (whereby obligations are discharged or extinguished; e.g. release, novation), real agreements (whereby rights are transferred; e.g. cession, conveyance), and family law ...
Registration does not depend on the validity of the underlying causa, as South Africa applies the abstract system of transfer of real rights. [ 113 ] The mortgage agreement, governed by the law of contract, is an undertaking to secure the underlying principal debt by passing a mortgage bond over immovable property in favour of the mortgagee.
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
South African contract law; S. South African law of lease; South African law of sale This page was last edited on 22 March 2022, at 09:15 (UTC). Text ...
In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien. [1] A typical conveyancing transaction has two major phases: the exchange of contracts (when equitable interests are created) and completion (also called settlement, when legal title passes and equitable rights merge with the legal title).
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The law of agency in South Africa regulates the performance of a juristic act on behalf or in the name of one person ("the principal") by another ("the agent"), who is authorised by the principal to act, with the result that a legal tie (vinculum juris) arises between the principal and a third party, which creates, alters or discharges legal relations between the principal and a third party.