CORE CLASSROOM COURSE Consumer Studies
OXFORD SUCCESSFUL
CONSUMER STUDIES OUP SA
This popular Consumer Studies series includes: relevant content that covers CAPS updated assessments for Grades 10 and 11 according to the DBE’s 2017 Strengthening the CAPS circular
exam support built into every activity revision, practice tests and exams assessment guidance worked out planning tools that are photocopiable correct pacing and progression a free resource CD, packed with useful teacher resources, with your Grade 11 and 12 Teacher’s Guide.
GRADE 10 *Learner’s Book
*Teacher’s Guide *Leerdersboek
*Onderwysersgids
GRADE 11 *Learner’s Book
*Teacher’s Guide *Leerdersboek
*Onderwysersgids
GRADE 12 *Learner’s Book
*Teacher’s Guide *Leerdersboek
*Onderwysersgids
978 0 19 905510 4 978 0 19 905585 2 978 0 19 905391 9 978 0 19 904987 5
978 0 19 599927 3 978 0 19 904568 6 978 0 19 599751 4 978 0 19 905256 1
978 0 19 904479 5 978 0 19 904424 5 978 0 19 599922 8 978 0 19 905274 5
*The full list of e-pdf titles is available in the price list.
FET PHASE
CHAPTER 2 UNIT 1 Contracts
A contract is a legal agreement between two or more parties where one party promises to do something in return for a valuable benefit of some sort. If one party fails to keep his or her promise, the other may take this up in a court of law or via arbitration proceedings.
RESOURCES Dictionaries see pages 100–101
The consumer Financial and contractual issues
Contracts are an unavoidable part of daily life. In this unit, you will learn about contracts and the importance of reading though a contract carefully before it is signed. The consequences of not doing so can be costly.
New words
arbitration: a means of resolving conflict
tacit: implied by the actions of both parties
Figure 1 Getting married, agreeing to pay a fee for transport and signing an offer to purchase are all examples of contracts. A contract may be
contract as it is the word of one party against the other. It is essential to make ant contracts are in writing and are signed by both parties,
e tacit, verbal or written. It is difficult to challenge a verbal he word of one party against the other
, verbal or written. It is difficult to c preferably with witnesses. g
sure that important contracts are in writing and are signed by both parties, witnesses.
Examples of these three kinds of contract or agreement include the following: Tacit agreement: You accept t exchange for pa
Verbal agreement: You offer to purchase a CD on behalf of your friend, u t
payment of a fee t: Y
ve hase a CD on behalf of y ur f
Written contracts: Purchase and sale agreements, marriage contracts, renta agreements, hire purchase agreements and partnership agreements.
who promises to give you the money : P rchase a
es to hir pu Requirements for a legal contract or a legal con ract
In order for a contract to be legally enforceable, it must contain the following elements:
There must be an offer as well as acceptance of that offer. The contract must be legal. In other words, it may not involve an to break the law.e law
e an o agreement to brea
r as w l as a cept l. I
e o th r w rd may not involve a ontract to be legally enforceable, it must contain the following , marria e co se a reements d pa ra ers p a reements ey , re tal
hese three kinds of contract or agreement include the following: cept the offer of a taxi driver to transport you in f a f
New words New w New ew worw words consideration: usuallyconsideration:
a debit, a ticket, labour, a loyalty credit or award, barter or other goods and services
money, but can be anything that is regarded as valuable to the parties involved, for example, property, a credit, a debit, a ticket, labour, a
, but can be anything operty edit, edit or award, barter
coerce: to persuade an unwilling person to do
to persuade an
something by force or threats insolvent: not having enough
eats not having enough money to pay your debts Chapter 2 The consumer The co 169 2013/05/16 1:05 PM
Posters see page 113 Oxford Successful
Consumer Studies Grade 12 Learner’s Book
46 Oxford University Press South Africa
OxfordSASchools
Did you know?
A person entering into a contract must be competent. Incompetent parties include minors (people under 18 years old), people who are mentally challenged and people who are insolvent.
The contract must specify legal consideration. Both parties must agree to exchange something of value, such as money or a promise to do something.
The parties who enter into the contract must have legal capacity. In other words, both parties must be legally competent to enter into the agreement in that they are over the age of 18 and are of sound mind.
Free consent is an essential element of a contract. Both parties must be in complete agreement on the terms included in the contract and must not have been forced or coerced in any way.
The sale of immovable property must be in writing. Types of contracts relevant to consumers
Consumers enter into contracts every day, for example, rental agreements, purchase and sale agreements, business contracts and marriage contracts.
Employment contracts
Figure 2 The conditions of employment are set out in a contract between the employer and the employee.
Know the difference
insured: the consumer who is taking out the insurance policy
insurer: the insurance company
Table 1 Insurance contracts Type of contract
This is one of the most important contracts that a consumer signs. Employment contracts are covered in detail in the Basic Conditions of Employment Act 75 of 1997. The employer offers an employment opportunity, and the employee accepts the employment conditions and wage or salary that were offered.
Insurance contracts
A consumer takes out an insurance contract with an insurance company. The insurance company offers to compensate the consumer in the event of loss of the insured items. The consumer agrees to pay a monthly amount called a premium.
Table 1 summarises the most important short- and long-term insurance contracts. Description
Short-term contracts Medical aid or hospital plan Covers the insured party against medical costs for illness or hospitalisation Household insurance
Vehicle insurance
Long-term contracts Life insurance
Education policy New words
forfeit: lose property or a right as a punishment for a fault or mistake
compromise: having to settle for less
Covers the insured party against loss or damage of property through theft, burglary, fire and so on
Covers the insured party against loss or damage to vehicles as a result of theft or accident The specified sum of money is paid out when the insured party reaches a specific age or dies
A specified amount of money is paid out on a specific date to cover the education costs of the insured party’s child
Credit contracts
A credit contract is an agreement between a financial provider and a consumer. Credit contracts are governed by the National Credit Act 34 of 2005 and the Consumer Protection Act 68 of 2008. These Acts protect the consumer from unfair business practices and give consumers new rights that they did not have in the past. For example, if a credit agreement is unlawful or does not comply with the National Credit Act, all rights of the credit provider to recover the money will be forfeited or may be compromised.
170 Chapter 2 The consumer Final CS Gr 12 LB to
disk.indb 170 2013/05
Fabric care symbols Washing
MACHINE WASH TEMPERATURE
Bleaching BLEACH Tumble Drying
TUMBLE-DRY HEAT SETTING
Fibres and fabrics Drying
DRY mbols Ironing ron g IRON RON N TEMPERATUREERATUR RE E Dry-cleaning DRY-CLEAN Cool/cold
Any bleach (when needed)
Warm Only non-
chlorine bleach (when needed)
Hot CYCLE Do not bleach High Normal Permament press
Any heat CYCLE
Dry in the shade No steam m Medium Dry flat No heat
Line dry/ hang to dry
Low Drip dry
High OTHER
h R Low ow Dry-clean Medium um Do not dry-clean
Do not wring
Do not iron type of fabric
Delicate/gentle OTHER
Normal
n fabric car ric care symbols
Permanent press Do not wash Hand wash
Delicate/gentle OTHER
Do not tumble-dry Vitamins where the garment is made Vitamin 01_Fabric care
symbols_OUP_Posters.indd 1 20 2015/02 11 3:4 02/11 46 PM Vitamin C
(ascorbic acid)
Vitamin B1 (thiamine)
Vitamin B2 (riboflavin)
Vitamin B3 (niacin or
nicotinic acid) Folic acid
(folate or folacin)
Vitamin B12 (cobalamin)
Vitamin A (retinol)
Vitamin D (calciferol)
Vitamin E (tocopherol)
style number umber Food and nutrition Functions
Assists with: • Formation and maintenance of connective tissue • Wound healing • Body’s resistance to infection • Healthy cell structures • Absorption of iron • Removal of harmful agents (antioxidant)
Assists with: • Metabolising carbohydrates, protein and fats • Normal growth • Functioning of the nervous system
Assists with: • Release of energy from carbohydrates, protein and fats • Functioning of enzymes • Normal growth
Essential for the metabolism of carbohydrates, protein and fats
meat
Assists with: • Production of red blood cells • Formation of genetic material
Assists with: • Formation of red blood cells • Normal metabolism of cells
eggs
Assists with: • Maintaining healthy skin • Good vision • Normal growth and development • Body’s reproductive system • Removal of harmful agents (antioxidant)
Assists with: • Absorption and metabolism of calcium and phosphorus • Development of bones and teeth • Normal growth and development
Assists with: • Protection of cell membranes • Thinning of the blood and prevents the build-up of plaque in the arteries
• Lowering the risk of heart disease • Removal of harmful agents (antioxidant)
Vitamin K
Assists with: • Blood clotting • Bone formation
broccoli plant oils nuts margarine liver
green leafy vegetables
carrots milk broccoli poultry fish nuts guava cauliflower Sources green peppers citrus fruits berries brussel sprouts tomato broccoli
legumes
meat
liver
whole-grains
milk
green leafy vegetables
eggs
poultry
fish
green leafy vegetables
meat
liver
whole-grains
meat milk poultry
liver fish egg yolk mango
milk
tuna
margarine
green leafy vegetables
liver
09_Vitamins_OUP_Posters.indd 9
2015/06/21 8:12 PM
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132
