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South African Contract Law Wikipedia  Form

South African Contract Law Wikipedia Form

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oh hi there it is me the dando man welcome to talking smart to the dando man thank you very much for joining me today as i'll be explaining the basic terminology which is involved with the law of contract let's not waste any time let's get to it so what is a contract well the contract is an agreement between two or more persons with the intention of creating rights and responsibilities obligations under the contract the contract has to meet certain legal requirements in order for it to be valid and binding in terms of the law the contracting parties are known as the creditor and debtor the creditor is someone who has the right to receive performance under the contract the debtor is someone who has an obligation to deliver the performance under the contract in most contracts the contracting parties are both the creditor and the debtor these contracts are known as reciprocal contracts which means that each party has an obligation to deliver some sort of performanc

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