Contract Law in South African Law
Contract Law South Africa has been influenced by Roman-Dutch law of contract which has been further influenced in Canon and Roman laws. This has allowed South Africa to have a rich set of contract law. A contract can be defined as an agreement between two or more parties with the purpose to create and bind them in a commitment.
Contract law South Africa offers a legal framework within which persons can engage in business and exchange resources knowing that there is an agreement that is fair and beneficial to both parties. Each party that has engaged in this contract will be able to rest knowing that their agreement will be upheld and enforced by the governing contract law of South Africa. The law of contract reinforces private enterprise in South Africa and regulates it in the interest of fair dealing.
South Africa is in a time in the history of change and that has influenced the need for contract law to be re-examined and undergo changes that allow for the current needs of South Africans, their rights and their businesses. The law is being designed to protect the fairness for all parties involved in the agreements. This trend is reinforced by the recent enactment of legislation designed to protect consumers, especially the Consumer Protection Act of 2008 and the National Credit Act of 2005.
REQUIREMENTS FOR A VALID CONTRACT
It is highly imperative that each and every contract is a valid contract as that it is enforceable by law. If the contract is not valid it is seen as void. For a contract to be valid it must include:
- Consensus: the parties’ intent in their minds must match (or at least appear to match) on all material aspects of their agreement.
- Capacity: the parties must have the necessary legal capacity to enter into a contract.
- Formalities: wherein exceptional cases, it requires that the agreement should be in a certain format (for example, in writing and signed), these formalities must be respected.
- Legality: the agreement must be lawful – in other words, it cannot be prohibited by law or common law.
- Possibility: the undertaken commitments must be performed, and have the capacity to be performed when the agreement is entered
- Security: the agreement must have definite or determinate content so that the commitments can be enforced.
Contract Law Services
If you are interested in entering into a new contract, it is highly advisable to seek professional contract law services. This is because it is best practice to have a new contract drafted for your unique agreement. As drafting one yourself or using a standard contract template could lead to complications and unwanted consequences further down the line. By enlisting the services of a law contract attorney, you are ensuring that your contract is fair to your circumstances, protective of each party and their interests. You will also be avoiding any breach of contract complications further down the line.
Dreyer Engelbrecht Attorneys Inc. offers contract law services. We have our clients needs in mind every time we assist them with any contract needs. It is always better to use the services of a contract law professional that you trust to help you navigate any contract that you will be drafting or agreeing to. We are one such service provider that offers our clients personalised and confidential legal services.