Question 3 (Marks: 40)

Q.3.1 Explain whether the following contracts are valid, void, voidable or unenforceable.

Q.3.1.1 Lwazi attends a party with his girlfriend. After some heavy drinking, Lwazi enters a contract with Peter (who is sober). Peter later sees the pictures on Facebook of a Lwazi drunk at the same party and he argues that he doesn't have to perform because the contract is void. (2)

Q.3.1.2 Nicole is a 16-year-old teenager who creates an App which assists students to study. Nicole sells her app to a multinational company for R 23 million without the assistance of her guardian. (3)

Q.3.1.3 Explain whether your answer in Q.3.1.2. above would be different if Nicole's mother; Lerato, enters the contract with the multinational company without Nicole's knowledge for the same amount of money? (Suppose that Nicole doesn't want to sell her App to the multinational company).

Q.3.2 Two of your best friends from high school are getting married. They have heard that "being married in community of property is the default matrimonial regime in South Africa". With emphasis on the correctness of the above statement, compare and contrast the matrimonial property regimes available to the couple, being sure to explain clearly what each entails.

Mark allocation: 20 marks awarded for correct description of theory. 10 marks awarded in respect of skill of comparison and contrast in clearly integrating the relevant points of the matrimonial property regimes to each other.