SayPro Terms implied by statute the Sale of Goods Act 1979. The key provisions are

• Section 12: the person selling the goods has to have the legal right to sell them.

• Section 13: if you’re selling goods by description, e.g. from a catalogue or newspaper advert, then the actual goods have to correspond to that description.

• Section 14: the goods must be of “satisfactory quality" – that is, they should meet the standard that a reasonable person would regard as “satisfactory". Also, if the buyer says they’re buying the goods for a particular purpose, there’s an implied term that the goods are fit for that purpose.

• Section 15: if you’re selling the goods by sample – you show the customer one bag of flour and they order 50 bags – then the bulk order has to be of the same quality as the sample.

As a matter of law. This is about general considerations of public policy – the courts are laying down, as a matter of law, how the parties to certain types of contract ought to behave. For example, in one case, the courts held that landlords of blocks of flats ought to keep the communal areas (lifts, stairs etc) in a reasonable state of repair – so that term was implied into the rental contract.Customary terms. Some terms are generally known to be included in contracts in a particular trade or locality. Amongst bakers, “one dozen" means thirteen – they don’t have to include terms in every contract specifying that.Essentials Elements of a Valid Contract:

1. Proposal and acceptance

2. Consideration – lawful consideration with a lawful object

3. Capacity of parties to contract – competent parties

4. Free consent

5. An agreement must not be expressly declared to be void.

6. Writing and Registration if so required by law

7. Legal relationship

8. Certainty

9. Possibility of performance

10. Enforceable by law.

Basic Guidelines for Contracts and Contract Risk ManagementContracts in all forms are embedded in virtually all parts of University operations and represent a vital and integral support mechanism in furthering Harvard’s mission. They come in many styles but most often take the form of a consulting services agreements, licenses, memoranda of understanding, real estate leases, equipment or fixed asset leases, purchase orders, partnership agreements, research grant applications and associated award and/or sub-award agreements. They are used to arrange for the delivery of every day supplies, basic services, and for the performance of specialized services in the areas such as publishing, architectural/engineering and design, financial advisory, cloud based IT infrastructure and applications, and research data analytics. Given the wide spectrum such activities entail, it is incumbent on all who are involved with the negotiation and execution of contracts to understand the risks involved and employ prudent control strategies to mitigate them.Contracts can be verbal or written and are used to create or expand the relationship between two or more parties and define the conditions of how each will interact within a given set of circumstances. To be valid and enforceable in the US(1), all contracts must have the following basic components:Consideration – each party to the contract must be providing something of value to the other, such as a product, service, or payment.Offer and acceptance – an offer made by one party, such as to provide a good or service, is accepted by the other, often for paymentIntention to create legal relations – the parties to the contract must intend for the contract to be legally binding, and if such intent is not the case, it should be clearly stated within the documentLegal purpose – in order to be legally enforceable, the contract must be for legal purposesCompetent parties – the parties entering into the contract must be capable of making the contract and understanding what they are doingWhile contracts can include any number of parties, the most common type of contract is between two-parties with one acting as the supplier, provider or lessor and the other party as the purchaser, buyer or lessee. Each time a member of the Harvard community enters into an enforceable contract, they could be obligating the University to perform whatever commitments are prescribed in the agreement, however costly or difficult. Individuals authorized to execute contracts on behalf of Harvard, therefore, have a duty to act in the best interest of the University without assuming unreasonable risk. Consistent with the role Harvard holds in a particular contract situation and PRIOR to undertaking negotiations with the other participant(s), it’s important to ascertain the business objectives (opportunities) behind the contractual relationship, the business risks created by entering into the relationship, and whether the proposed compensation is equitable given the services to be performed/delivered when weighed against the allocation of those risks.Proper and consistent treatment of contract risk (via transfer and/or financing mechanisms) is a significant lever for controlling the overall cost of risk for the University. It is not the role Risk Financing and Insurance to mandate universal contract formats and content be used across the organization but to offer guidance on the choices available to Harvard associates in aligning their risk appetite with the particular aspects of the deal at hand. While the Department maintains some limited financial resources for supporting legal liability risk assumed by TUBS, mainly in the form of the master insurance program, the policies have certain limitations in size and scope. Therefore contracting parties should consider themselves as the primary holder and financially responsible party for contractually assumed risk unless otherwise transferred via written agreement.Please visit our website at www.saypro.online Email: info@saypro.online Email: info@saypro.online Call: + 27 11 071 1903 WhatsApp: + 27 84 313 7407. Comment below for any questions and feedback. For SayPro Courses, SayPro Jobs, SayPro Community Development, SayPro Products, SayPro Services, SayPro Consulting, and SayPro Advisory visit our website to www.saypro.online