Answer ANY FIVE $(5)$ questions.

QUESTION $1$

$(20$ Marks$)$

Candice is emigrating to Germany and wishes to rent out her home in Pinetown. Candice does not have the time to interview tenants and asks her best friend Jordan to handle such affairs on her behalf.

$1\mathrm{.}1$ Advise Jordan on the duties she is obliged to perform.

$(10$ marks$)$

$1\mathrm{.}2$ Identify and discuss FIVE $(5)$ ways in which a contract of agency may be terminated.

$(10$ marks$)$

QUESTION $2$

$(20$ Marks$)$

Discuss the various sources of South African Law.

QUESTION $3$

$(20$ Marks$)$

Mr Big Spender has been in business for several years and trades a successful company known as BNI enterprises. In the last few months, has not been able to secure any tenders and as a result he has been experiencing great financial strain. All four of his multi$-$million homes are owned by his company as well as all his business vehicles. At the end of last month, Mr Spender received several threatening letters from his creditors who are demanding payment for goods supplied. Mr Spender has since responded to his creditors saying that he is "unable to satisfy any of his debts at the moment".

$3\mathrm{.}1$ Discuss the concept of 'Insolvency' in South Africa

$(2$ marks$)$

$3\mathrm{.}2$ Critically discuss the TWO $(2)$ ways in which a debtor's estate may be sequestrated.

$(8$ marks$)$

$3\mathrm{.}3$ Identify and discuss ANY FIVE $(5)$ Acts of Insolvency accepted by the South African Courts.

$(10$ marks$)$

QUESTION $4$

$(20$ Marks$)$

Billy has entered into a suretyship agreement with Anna whereby if Jack is unable to repay his loan to Anna, Billy will pay the principal debt. Jack has defaulted on his payment to Anna. Anna immediately approaches Billy for payment.

$4\mathrm{.}1.$ Discuss the nature of a suretyship agreement.

$(4$ marks$)$

$4\mathrm{.}2$ Identify any benefit$/$defence Billy has against Anna's claim and discuss this benefit$/$defence fully.

$(6$ marks$)$

$4\mathrm{.}3$ Discuss FIVE $(5)$ instances where this benefit$/$defence will not be available to the Surety.

$(10$ marks$)$