Answer Happy

Read the scenario below then answer the questions that follow.Contracts are of critical importance especially in daily commercialand business transactions. Agreements are constantly being enteredinto for various purposes. A contract is binding in law and eachparty must deliver and perform according to their obligations asmutually agreed upon in the contract. Janice runs a bespoke luxuryhandbag boutique called La Bougee Boutique in an upmarket suburb ofDurban. She buys and sells premium handbags. Janice has created awell-established name for herself in the fashion industry in SouthAfrica. Janice has international clients who purchase handbags fromher store. Her supplier Roderigo resides in Cape Town. Janice has awritten contract in place with Roderigo which states that Roderigowill provide Janice with premium handbags which he imports fromItaly. The contract shall span over a period of 2 years. One ofJanice’s obligations is to ensure that a part payment of 50% istransferred to Roderigo prior to the delivery of the handbags. Theremainder shall be payed upon the delivery of the goods to herstore. One of Roderigo’s obligations is to ensure that all bagssold to Janice are authentic and suitable for sale.
Question 3
(20 Marks) Janice wishes to safeguard her business at all giventimes. She has heard from a friend that there are certainindividuals who lack contractual capacity, and there are alsoindividuals who have limited contractual capacity. Janiceapproaches you for advice.