A US company with a primary professional liability insurer and a $10 million policy limit settled with the primary insurer for about $5 million. It then paid further losses exceeding the $10 million limit and unsuccessfully sought to trigger two excess policies for claims of the tens of millions of dollars in settlements and legal
The monetary limits of jurisdiction of regional and district divisions of the magistrate’s courts has been increased.
From 27 March 2014:
Africa’s diversity is reflected in its legal systems. The following legal curiosities give a taste of what makes the continent such an interesting, and sometimes challenging, place to transact.
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After much anticipation, an important milestone in the road to commencement of the Protection of Personal Information Act, 2013 (POPI), has been reached. From 11 April 2014, the following sections of POPI are operational:
Pension Funds need to ensure that they comply with their new obligations because the Financial Services Laws General Amendment Act came in to operation on 28 February 2014.
All the amendments to the Pension Funds Act with the exception of the amendments to sections 5(a) and 31 will need to be complied with from the
The goal is to make it possible for members of the public to establish a basic private company quickly.
The Companies and Intellectual Property Commission (CIPC) has announced that it is providing quick methods to incorporate a private company, using the freely available short form Memorandum of Incorporation. The ultimate goal is to make it
Valuation is not an exact science. The market value of a property can only be estimated and not precisely determined. A valuer is called on to exercise professional skill and expertise by expressing an opinion on the market value in monetary terms.
The market value of a property can only be estimated by a valuer.
The courts have reaffirmed that if suspensive conditions in an agreement are not fulfilled timeously the agreement will not be binding on the parties. This is not cured by either party performing in terms of the agreement.
Suspensive conditions and how they must be fulfilled must be precisely and carefully drafted.
Facts of the case