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19th Jul 2022
| Just News
Keeping it simple: Dispositions not made for value- means no value at all. Strydom N.O and Another v Snowball Wealth (Pty) Ltd and Others [2022] ZASCA 91
Insolvency proceedings will always be to the benefit of the creditors. When companies are liquidated or private persons are sequestrated, the property of the insolvent vests in the trustee or liquidator to fairly distribute the assets among creditors.[i] However, the Insolvency Act 24 of 1936 (“the Act”) provides for the trustee to recover certain property…
Read more19th Jul 2022
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Beware – pre-contracual negotiations could affect your written contract
Interpreting contracts in South Africa has been no easy feat for our courts. When adjudicating not only do they have to consider legislation and public policy, but they also have to bear in mind that the law needs to be developed without overstepping boundaries and rights enshrined in our Constitution. The parol evidence rule is…
Read more19th Jul 2022
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The difference between a sale of shares and a sale of business
IntroductionIt is common in legal corporate and commercial practice for a client to seek advice on the sale or purchase of what may generically be referred to as a “business”. To a layman client the concept may appear simple – “Mrs. X owns “Brilliant Grocers”, a successful grocery store down the road, and I want…
Read more1st Apr 2022
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Memorandum of Incorporation Versus a Shareholders Agreement: Some Important Considerations.
Introduction In the context of South African company law, a memorandum of incorporation (MOI) and a shareholders agreement (SHA) are similar documents in that both seek to govern the manner in which a company is run, albeit with subtle differences.[1] In terms of the Companies Act 71 of 2008 (Companies Act), the purpose of a…
Read more30th May 2019
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Does a trust need to register as a homebuilder?
Does a trust need to register as a homebuilder? Each year, hundreds of new homes are constructed by commercial developers around the country. To regulate this industry, the Housing Consumers Protection Measures Act 95 of 1998 (“the Act”) established the National Home Builders Registration Council (the “NHBRC”). This Council aims to, among other objectives, “represent…
Read more16th May 2019
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Emoluments attachment order vs Garnishee order
Emoluments attachment order vs Garnishee order. Once judgment is granted in your favor for a debt owed to you or your business, you may feel that you have come to the end of a long and frustrating battle to claim what is rightfully yours. Unfortunately, this may not be the end of the road just…
Read more6th May 2019
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Initiating Divorce Action where the Defendant’s whereabouts are unknown to the Plaintiff
Initiating Divorce Action where the Defendant’s whereabouts are unknown to the Plaintiff A marriage may be dissolved by a court by a decree of divorce on the grounds of an irretrievable break-down of the marriage, mental illness or unconscious consciousness, as provided for in section 3 of the Divorce Act, 70 of 1979 (“the Act”).[1]…
Read more29th Apr 2019
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Sharia Compliant Financing Arrangements
In Albaraka Bank Ltd v Halaal Royal Snacks (Pty) Ltd, the court emphasized that, “there is nothing intrinsically wrong, unlawful or contrary to public policy in banking transactions being entered into according to the Sharia law[/Islamic Law].”[1] The court went on to point out that, “banking transactions according to Sharia law is a rapidly growing…
Read moreDeadlock-Breaking Mechanisms
The Lifelines for Agreements to Agree and Agreements to Negotiate in Good Faith In order for a contract to be valid, it needs to fulfill certain requirements. Firstly, the parties entering into the contract need to have the capacity to do so. Secondly, there needs to be a meeting of the minds on the…
Read morePoor Work Performance vs Misconduct
A dismissal is unfair if it is not effected for a fair reason (substantive fairness) and in accordance with a fair procedure (procedural fairness).[1] There are three grounds on which a termination of an employee might be legitimate, namely conduct, capacity and operational requirements.[2] The Code of Good Practice provides for guidelines relating to dismissals…
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