PVL3702 EXAM 2024/2025 WITH ALL
VERIFIED QUESTIONS AND ACCURATE
ANSWERS
Public Policy - CORRECT ANSWER Principles that govern the legal system's interests.
Offer Acceptance - CORRECT ANSWER Agreement to the terms of an offer.
Notice of Acceptance - CORRECT ANSWER Acceptance must be communicated to the
offeror.
Legal Binding - CORRECT ANSWER Enforceable agreement recognized by law.
Reward Offer - CORRECT ANSWER Public offer for information leading to a result.
Contract Formation - CORRECT ANSWER Process of creating a legally binding
agreement.
Bona fide bid - CORRECT ANSWER A genuine offer made in an auction.
Reserve price - CORRECT ANSWER Minimum price seller will accept at auction.
Pre-emption contract - CORRECT ANSWER Right to purchase before others.
Concurring declaration - CORRECT ANSWER Mutual agreement necessary for
contract formation.
Expedition theory - CORRECT ANSWER Focus on promptness in contract execution.
Declaration theory - CORRECT ANSWER Emphasizes parties' expressed intentions.
Reliance theory - CORRECT ANSWER Contracts based on parties' reliance on
promises.
Reception theory - CORRECT ANSWER Acceptance of offer occurs upon receipt.
Negligent misrepresentation - CORRECT ANSWER False statement made without due
care.
Enrichment action - CORRECT ANSWER Claim for unjust enrichment recovery.
Illegality in contracts - CORRECT ANSWER Contracts void if purpose violates law.
,Par delictum rule - CORRECT ANSWER No recovery for parties involved in illegal acts.
Tacit term - CORRECT ANSWER Unwritten term implied by law.
Naturalium - CORRECT ANSWER Terms naturally included in contracts.
Bloom v American Swiss Watch Co - CORRECT ANSWER Case on public reward
acceptance without prior knowledge.
Laws v Rutherford - CORRECT ANSWER Case on failure to accept offer properly.
Fern Gold Mining Company v Tobias - CORRECT ANSWER Case on revocation of
offer before acceptance.
Reward offer - CORRECT ANSWER Public offer for information leading to arrest.
Revocation of offer - CORRECT ANSWER Withdrawal of an offer before it is accepted.
Acceptance of offer - CORRECT ANSWER Agreement to terms of an offer, must be
clear.
Offeree - CORRECT ANSWER Person to whom an offer is made.
Prescribed manner - CORRECT ANSWER Specific method required to accept an offer.
Judgments - CORRECT ANSWER Court decisions that clarify legal principles.
Contractual liability - CORRECT ANSWER Responsibility for damages arising from
contract breach.
Reasonable foreseeability - CORRECT ANSWER Expectation that damages could
occur from breach.
Circumstantial agreement - CORRECT ANSWER Implied consent to specific liabilities
in a contract.
Case law - CORRECT ANSWER Law established by judicial decisions in court.
Revocation of Offer - CORRECT ANSWER Withdrawal of an offer before acceptance.
Valid Offer Requirements - CORRECT ANSWER Conditions necessary for an offer to
be binding.
Firm Offer - CORRECT ANSWER An offer intended to create a binding contract.
Complete Offer - CORRECT ANSWER Includes all material terms of the agreement.
, Clear and Certain Offer - CORRECT ANSWER An offer that is understandable and
specific.
Public Offer - CORRECT ANSWER An offer directed at undefined individuals.
Valid Acceptance - CORRECT ANSWER Acceptance that meets all legal requirements.
Unqualified Acceptance - CORRECT ANSWER Acceptance without conditions or
modifications.
Conscious Response - CORRECT ANSWER Acceptance made with awareness of the
offer.
Prescribed Method of Acceptance - CORRECT ANSWER Acceptance must follow the
offeror's specified method.
Absolving Agreement - CORRECT ANSWER Agreement that extinguishes or
discharges obligations.
Vertical Application - CORRECT ANSWER Constitutional rights applied between private
persons.
Horizontal Application - CORRECT ANSWER Constitutional rights applied between
state and individual.
Barkhuizen v Napier - CORRECT ANSWER Case addressing constitutional challenges
in contracts.
Auctioneer's Authority - CORRECT ANSWER Auctioneer can cancel auction before it
starts.
Reserve Auction - CORRECT ANSWER Auction where seller can refuse bids below a
threshold.
Bona Fide Bid - CORRECT ANSWER A genuine offer made during an auction.
Material Terms - CORRECT ANSWER Essential elements that must be included in an
offer.
Offeror - CORRECT ANSWER Person who makes the offer.
Contractual Term - CORRECT ANSWER Specific provision within a contract.
Public Policy - CORRECT ANSWER Principles that govern the legal system's interests.
VERIFIED QUESTIONS AND ACCURATE
ANSWERS
Public Policy - CORRECT ANSWER Principles that govern the legal system's interests.
Offer Acceptance - CORRECT ANSWER Agreement to the terms of an offer.
Notice of Acceptance - CORRECT ANSWER Acceptance must be communicated to the
offeror.
Legal Binding - CORRECT ANSWER Enforceable agreement recognized by law.
Reward Offer - CORRECT ANSWER Public offer for information leading to a result.
Contract Formation - CORRECT ANSWER Process of creating a legally binding
agreement.
Bona fide bid - CORRECT ANSWER A genuine offer made in an auction.
Reserve price - CORRECT ANSWER Minimum price seller will accept at auction.
Pre-emption contract - CORRECT ANSWER Right to purchase before others.
Concurring declaration - CORRECT ANSWER Mutual agreement necessary for
contract formation.
Expedition theory - CORRECT ANSWER Focus on promptness in contract execution.
Declaration theory - CORRECT ANSWER Emphasizes parties' expressed intentions.
Reliance theory - CORRECT ANSWER Contracts based on parties' reliance on
promises.
Reception theory - CORRECT ANSWER Acceptance of offer occurs upon receipt.
Negligent misrepresentation - CORRECT ANSWER False statement made without due
care.
Enrichment action - CORRECT ANSWER Claim for unjust enrichment recovery.
Illegality in contracts - CORRECT ANSWER Contracts void if purpose violates law.
,Par delictum rule - CORRECT ANSWER No recovery for parties involved in illegal acts.
Tacit term - CORRECT ANSWER Unwritten term implied by law.
Naturalium - CORRECT ANSWER Terms naturally included in contracts.
Bloom v American Swiss Watch Co - CORRECT ANSWER Case on public reward
acceptance without prior knowledge.
Laws v Rutherford - CORRECT ANSWER Case on failure to accept offer properly.
Fern Gold Mining Company v Tobias - CORRECT ANSWER Case on revocation of
offer before acceptance.
Reward offer - CORRECT ANSWER Public offer for information leading to arrest.
Revocation of offer - CORRECT ANSWER Withdrawal of an offer before it is accepted.
Acceptance of offer - CORRECT ANSWER Agreement to terms of an offer, must be
clear.
Offeree - CORRECT ANSWER Person to whom an offer is made.
Prescribed manner - CORRECT ANSWER Specific method required to accept an offer.
Judgments - CORRECT ANSWER Court decisions that clarify legal principles.
Contractual liability - CORRECT ANSWER Responsibility for damages arising from
contract breach.
Reasonable foreseeability - CORRECT ANSWER Expectation that damages could
occur from breach.
Circumstantial agreement - CORRECT ANSWER Implied consent to specific liabilities
in a contract.
Case law - CORRECT ANSWER Law established by judicial decisions in court.
Revocation of Offer - CORRECT ANSWER Withdrawal of an offer before acceptance.
Valid Offer Requirements - CORRECT ANSWER Conditions necessary for an offer to
be binding.
Firm Offer - CORRECT ANSWER An offer intended to create a binding contract.
Complete Offer - CORRECT ANSWER Includes all material terms of the agreement.
, Clear and Certain Offer - CORRECT ANSWER An offer that is understandable and
specific.
Public Offer - CORRECT ANSWER An offer directed at undefined individuals.
Valid Acceptance - CORRECT ANSWER Acceptance that meets all legal requirements.
Unqualified Acceptance - CORRECT ANSWER Acceptance without conditions or
modifications.
Conscious Response - CORRECT ANSWER Acceptance made with awareness of the
offer.
Prescribed Method of Acceptance - CORRECT ANSWER Acceptance must follow the
offeror's specified method.
Absolving Agreement - CORRECT ANSWER Agreement that extinguishes or
discharges obligations.
Vertical Application - CORRECT ANSWER Constitutional rights applied between private
persons.
Horizontal Application - CORRECT ANSWER Constitutional rights applied between
state and individual.
Barkhuizen v Napier - CORRECT ANSWER Case addressing constitutional challenges
in contracts.
Auctioneer's Authority - CORRECT ANSWER Auctioneer can cancel auction before it
starts.
Reserve Auction - CORRECT ANSWER Auction where seller can refuse bids below a
threshold.
Bona Fide Bid - CORRECT ANSWER A genuine offer made during an auction.
Material Terms - CORRECT ANSWER Essential elements that must be included in an
offer.
Offeror - CORRECT ANSWER Person who makes the offer.
Contractual Term - CORRECT ANSWER Specific provision within a contract.
Public Policy - CORRECT ANSWER Principles that govern the legal system's interests.
