File Edit View Read the scenario below and answer questions that follow. Joel Mkhize is a...
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File Edit View Read the scenario below and answer questions that follow. Joel Mkhize is a 15-year-old avid biker. He recently joined a biking club in his town. The biking club is well organised and is led by Mr Harry Peters. The biking club has a subscription fee of R300 per month and also raises money through hosting fundraising events. The biking club is adored in the community as its members also double as neighbourhood watch and carry out community work like fixing potholes and cleaning the local public swimming pool. Most importantly, the club donates most of its money to charity. Joel is able to raise the subscription fee on a monthly basis from his own savings. His father also supports him and recently bought him two pairs of biking gear. While preparing for one of the club's 300km biking trips, Joel is told that his motorbike is worn out and has to buy a new one. Joel approaches a local dealer and buys a new bike on hire purchase. He tells the dealer that his father will pay for the bike. Joel father denies liability for payment. He also argues that the contract is not valid since Joel is a minor. 1.1 (14 Marks) state and explain the essential elements of a valid contract 1.2 (10 Marks) Would the court uphold the argument that the contract is invalid because it was entered with a minor? In your answer fully discuss the concept of capacity to contract. answe File Edit View Read the scenario below and answer questions that follow. Joel Mkhize is a 15-year-old avid biker. He recently joined a biking club in his town. The biking club is well organised and is led by Mr Harry Peters. The biking club has a subscription fee of R300 per month and also raises money through hosting fundraising events. The biking club is adored in the community as its members also double as neighbourhood watch and carry out community work like fixing potholes and cleaning the local public swimming pool. Most importantly, the club donates most of its money to charity. Joel is able to raise the subscription fee on a monthly basis from his own savings. His father also supports him and recently bought him two pairs of biking gear. While preparing for one of the club's 300km biking trips, Joel is told that his motorbike is worn out and has to buy a new one. Joel approaches a local dealer and buys a new bike on hire purchase. He tells the dealer that his father will pay for the bike. Joel father denies liability for payment. He also argues that the contract is not valid since Joel is a minor. 1.1 (14 Marks) state and explain the essential elements of a valid contract 1.2 (10 Marks) Would the court uphold the argument that the contract is invalid because it was entered with a minor? In your answer fully discuss the concept of capacity to contract. answe
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Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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