Security Interest Validity Explained

Summary

Security interests are valid only if the principal obligation is valid. A kustingsbrief is a mortgage bond registered with land transfer to secure unpaid purchase balances. Crypto assets are not e-money under South African law. Digital currencies like Bitcoin are not tied to fiat currency, unlike in-game currencies. Credit cards have credit limits, contrary to the belief they are limitless for regular payments.

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Question *.* (* mark) True or false: A “kustingsbrief”... is a type of mortgage bond, that is registered at the same time as the transfer of land, to secure the unpaid balance of the purchase price. It is typically in favour of a seller or another person or financial institution who advanced the balance of the purchase price to the buyer. a. True b. False Que
The statement about the "kustingsbrief" is True.
A "kustingsbrief" is indeed a type of mortgage bond registered simultaneously with the transfer of land to secure the unpaid balance of the purchase price. It typically favours the seller or another person/institution who advanced the balance.
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estion *.* (* mark) Which one of the following statements regarding crypto assets is incorrect? a. b. c. d. The use of crypto assets in South Africa is dependent on retailers voluntarily using it through both online and physical transactions. At present under South African Law, crypto assets do not have the status of legal tender. Crypto assets are regarded as a form of e-money in terms of the National Payment Systems Act * of *. Cryptocurrency is a subs
The incorrect statement regarding crypto assets is:
c. Crypto assets are regarded as a form of e-money in terms of the National Payment Systems Act * of *.
Crypto assets are not regarded as e-money under this Act. Do you have any other legal questions or need further assistance?
Question *.* (* mark) True or false: Digital currency is a digital form of payment that is denominated in fiat currency and an example of such is World of Warcraft Gold. a. True b. False Question *.*
The correct answer to Question *.* is:
b. False
World of Warcraft Gold is not denominated in fiat currency; it's a virtual currency used within a game. Digital currencies like Bitcoin are not necessarily tied to fiat currencies either.
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Question *.* (* mark) True or false: Digital currency is a digital form of payment that is denominated in fiat currency and an example of such is World of Warcraft Gold. a. True b. False Question *.*
For Question *.*, the statement is False. World of Warcraft Gold is not considered a digital currency denominated in fiat currency; it is an in-game currency. Digital currencies like Bitcoin or Ethereum are examples of digital forms of payment, but they are not denominated in fiat currency.
Do you have any other legal questions or need assistance with something else?
Question *.* (* mark) Choose the incorrect option: Certain advantages relating to the use of credit cards as a form of modern payment method include: a. b. c. the card holder does not have to carry cash on their person. the credit card can be used both within South Africa and across borders in other countries. they are ideally used for regular monthly payments as there is typically no credit limit. d. None of the above. Question * (* marks) Mr
For Question *.*, the incorrect option is:
c. they are ideally used for regular monthly payments as there is typically no credit limit.
Credit cards do have credit limits, which is a fundamental characteristic of their use. If you have any other legal questions or need further assistance, feel free to ask!