Commercial Law

Essay text:

It affects politics, economics and society in numerous ways. Contract law regulates everything from buying a bus ticket to trading swaptions on a derivatives market. Property law defines rights and obligations related to transfer and title of personal and real property, for instance, in home loans (bonds) or renting a home. As members of a society we need a set of laws which defines our rights and duties, a society cannot function effectively and efficiently without a set of rules governing human behaviour. TABLE OF CONTENTS EXECUTIVE SUMMARY 1 TABLE OF CONTENTS 2 INTRODUCTION 3 QUESTION ONE 4 QUESTION TWO 6 QUESTION THREE 8 QUESTION FOUR 10 QUESTION FIVE 12 The following are essential elements in a contract of lease: 12 Specified immovable property 12 Specific period 13 Express Renewal 13 Tacit Renewal 13 Specified Rental 14 The Formation of the Contract of Lease 14 Duties of the Landlord 14 Timeous delivery of the leases property 14 Warranty against interference 15 Maintenance 15 Damage to property of tenant 15 Special terms 15 The Duties of the Tenant 15 Payment of the rent 15 No misuse of the property 16 Return the property undamaged 16 Specific performance 16 QUESTION SIX 17 QUESTION SEVEN 19 A contract surety may terminate due to the following: 20 QUESTION EIGHT 21 Sole Proprietorship 21 Partnership 22 Close Corporation 23 Private Company 24 CONCLUSION 26 REFERENCES 27 INTRODUCTION In this assignment I will distinguish between criminal or civil cases and the differences between real and personal rights...