SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Interpret provisions of a contract and assess liability of clients and other parties to an agency agreement 
SAQA US ID UNIT STANDARD TITLE
12984  Interpret provisions of a contract and assess liability of clients and other parties to an agency agreement 
ORIGINATOR
SGB HET Accountancy and Financial Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
FASSET - Financial and Accounting Services SETA 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 6  Level TBA: Pre-2009 was L6  10 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2026-06-30   2029-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
A person credited with this unit standard is generally found within the general accounting field. On successful completion of the unit standard, a person will be able to interpret the general principles of the law of contract and agency, and assess the liability of clients and other parties to an agency agreement within the context of the accounting profession. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Unit standard, Demonstrate a basic knowledge of South African legislation as it relates to the accounting function, NQF level 5. 

UNIT STANDARD RANGE 
N/A 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Interpret the provisions of a contract. 
OUTCOME RANGE 
Definition and essential elements, Voidable contracts, Operation, Parties, Contents, Obligations, Cession, delegation and variation, Termination, Breach of contract 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The legal principles operative in the law of contracts are explained to clients in a meaningful manner, with specific reference to aspects where conflict has arisen in practice. 

ASSESSMENT CRITERION 2 
2. The essential elements of contracts are identified and defined in line with related regulations. 

ASSESSMENT CRITERION 3 
3. The elements of voidable contracts are explained to clients in order to ensure understanding. 
ASSESSMENT CRITERION RANGE 
Misrepresentation, Duress, Undue influence, Error
 

ASSESSMENT CRITERION 4 
4. The provisions of a contract are interpreted on behalf of clients with reference to specific elements of the contract. 
ASSESSMENT CRITERION RANGE 
Operation, Affected parties, Contents, Obligations, Cession, delegation and variations, Termination, Performance, Breach of contract and remedies for breach
 

SPECIFIC OUTCOME 2 
Interpret the law of agency. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The law of agency is described in accordance with relevant regulations. 

ASSESSMENT CRITERION 2 
2. The essential elements of agency agreements are identified and defined in line with related regulations. 
ASSESSMENT CRITERION RANGE 
Nature and formation
 

ASSESSMENT CRITERION 3 
3. Key relationships within the agency agreement are identified and explained to clients in a meaningful manner. 

SPECIFIC OUTCOME 3 
Assess the liability of clients and other parties to an agency agreement. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The rights and liabilities to third parties to contracts made by agents are assessed and described in relation to a particular agency agreement. 

ASSESSMENT CRITERION 2 
2. The agent's rights and liabilities to third parties are assessed and delineated in accordance with standard legal practice. 

ASSESSMENT CRITERION 3 
3. Termination procedures and legal implications are explained to clients with reference to a particular agency agreement. 

ASSESSMENT CRITERION 4 
4. Advice regarding agency agreements is provided to clients in a professional manner and in line with related regulations. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation for this unit standard shall be obtained from the relevant Education and Training Quality Assurance Body, through summative assessment by a registered assessor.

Moderation activity comments by SGB`s, organisations and individuals may be forwarded to NSB03. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
A demonstrated understanding of:
  • Contracts
  • Law of agency
  • Agency agreements

    Legal Requirements:
  • Law of agency
  • Contractual law 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one`s activities responsibly and effectively. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  57607   National Certificate: 3D Animation and Visual Effects  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MICTS 
    Fundamental  20909   National First Degree: Customer Management  Level 6  Level TBA: Pre-2009 was L6  Passed the End Date -
    Status was "Reregistered"     		 2018-06-30   
    Fundamental  20905   National First Degree: Marketing Communication  Level 6  NQF Level 07  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  As per Learning Programmes recorded against this Qual 
    Fundamental  20901   National First Degree: Marketing Management  Level 6  Level TBA: Pre-2009 was L6  Passed the End Date -
    Status was "Reregistered"     		 2018-06-30   
    Fundamental  20897   National First Degree: Marketing Research  Level 6  Level TBA: Pre-2009 was L6  Passed the End Date -
    Status was "Reregistered"     		 2018-06-30   
    Elective  36437   National Certificate: Local Economic Development  Level 6  Level TBA: Pre-2009 was L6  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  LG SETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
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    62. Luminous Coaching And Wellness 
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    72. Meyiswa Training Academy 
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    75. Microzone Training CC 
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    78. Mohlaje Solutions (Pty) Ltd 
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    85. Pfim Trading (Pty) Ltd 
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    88. Ptdev (Pty) Ltd 
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    92. Simangasentso Enterprise 
    93. Smartkip 
    94. South African Institute of Learning (SAIL) 
    95. South African Business and Technology Institute 
    96. Spectrium 
    97. Starplex 489 cc 
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    99. Tembe Service Providers 
    100. Thinking Mind Trading 
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    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.