PVL3702 Assignment 1 Semester 2 2026 – Due 4 September 2026

Description

PVL3702 ASSIGNMENT 1 2026
DUE 4 SEPTEMBER 2026

Jack hosts a party at his home which Peter attends. At the party, Peter admires Jack’s
collection of paintings. Jack makes a legally valid offer to sell Peter an original painting
of Table Mountain for R600 000. The next day Peter meets his friend Themba, and he
informs him of Jack’s offer. A few days later Themba also views the same painting, and
thereafter Peter and Themba inform Jack that they want to purchase it together, and will
pay R300 000 each to Jack for his original painting of Table Mountain. Jack needs to
think about it and requests seven (7) days to revert to Peter and Themba, who agree to
this. It is only after ten (10) days lapse that Jack informs Peter and Themba that he
agrees to sell his original painting of Table Mountain to them for R600 000, which they
can pay in equal amounts.

IDENTIFYING THE PROBLEM
The legal question is whether a valid contract was concluded between Jack, Peter, and
Themba based on an offer and acceptance analysis. Specifically, the issues are
 whether Peter and Themba’s response constituted a valid acceptance or a counteroffer;

 whether Jack’s request for seven days and his response after ten days affected the
legal position; and
 whether any pactum de contrahendo (option) was created.