Business Transactions Law

Business Transactions Law addresses fundamental questions about business transactions. When is a transaction recognised as binding in law? If a transaction is binding, what is its legal effect? Are there any circumstances in which one party is excused from carrying out its side of a transaction? What legal redress does a party have if its opposite number fails to do what has been promised in terms of the transaction? What is the position if a party, due to financial difficulties, is unable to carry out or complete its side of the transaction? This completely updated edition reflects developments in legislation and case law and includes more than 100 new case summaries. Updates include: Miscellaneous provisions, now dealt with in the discussion of agreement based on an incorrect common assumption An explanation of various payment mechanisms (including traveller's cheques) and an overview of payment in international transactions under the topic of performance Discussion of the international sale of goods within the chapter on sale. Credit agreements as defined in the National Credit Act 2005. This Act becomes fully operational on 1 June 2007 and has repealed the Usury Act, 1968 An explanation and discussion of bills of exchange and promissory notes.