00:01
Yeah, so we're going to be looking here at the issue involving a contract.
00:09
So there is a buyer and a seller of a three -bedroom department, a three -bedroom house.
00:15
So a buyer and a seller enter into a contract for the sale of a three -bedroom residential property.
00:21
Shortly after the contract is in place, that's going to be important to note.
00:25
The buyer has an inspection done as a result of the inspection.
00:30
The buyer wants the seller to fix the fence and replace the garage door opener.
00:35
The seller refuses.
00:37
How should the parties proceed? okay, so what is important to take note of is that there are elements that make a contract valid.
00:46
So we will assume that all these elements have been met.
00:50
And we normally recognize four elements that make a contract valid.
00:54
The first one, foremost, is obviously that there has to be agreement.
01:02
There has to be consensus in order for the cell to be deemed valid.
01:08
And obviously, there has to be the concept of possibility that the product or the merck's is available.
01:20
It's possible to supply the good or the service.
01:25
And there's the issue of capacity and capacity stretches are to meet the age as well as the marital status the mental status and basically looking at the um uh the possible i mean the ability to make representation in the core of law and then the aspect of legality is the the product or the transaction legal legal according to the laws or regulations governing such transactions in that land.
02:02
And finally, the issue of formality is also considered in identifying with the type of contract to say if it doesn't follow some certain procedure or documentation, it may not be deemed valid.
02:22
So we assume by the description that these conditions have been met and that's why the contract is valid.
02:31
Now the issue with the buyer is that the inspection that was done was done after the contract had been put in place, had been agreed on, been signed on.
02:46
So the buyer would have been best advised to do that inspection earlier rather than later...