Brexit will have significant consequences for many businesses. The departure process will take several years but planning should start immediately to identify the risks and opportunities.
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The Supreme Court of Appeal settled the debate surrounding the interpretation and relationship between s56(c) of the Mineral and Petroleum Resources Development Act 2002 and s73(6A) of the Companies Act 1973 by declaring that a right which has lapsed due to the deregistration of the company which is the holder of the right is revived
The overriding question when a court is asked to remove a trustee is whether or not the conduct of the trustee imperils the trust property or its proper administration. The decisive consideration is the welfare of the beneficiaries and the proper administration of the trust and the trust property. Mere friction or enmity between a
Many creditors require some form of security to be given by their debtors to ensure the payment of a debt. The creditor acquires a right over property of the debtor which may be exercised if the debt is not paid. One of the most common examples is a mortgage bond over immovable property in favour
In resolving the question whether a guarantee was a call guarantee or a conditional guarantee the Supreme Court of Appeal in Mutual & Federal v KNS Construction restated what has been said before about interpreting documents.
The interpretative process is one of ascertaining the intention of the parties – what they meant to achieve. And
A performance guarantee relating to a building contract included language stating that it was issued for the ‘due fulfilment’ by a sub-contractor of its obligations. The guarantee also stated that the amount was payable on receipt of a written demand made by the main contractor ‘if (in your opinion and at your sole discretion) the
An acceleration clause that allows a creditor to call in a full debt payable by instalments can be drafted to operate automatically on default by a debtor, or it can allow the creditor an election to accelerate the debt.
The distinction between automatic and elective acceleration clauses is important because it affects when prescription on
A court in Delaware USA held that coverage for an incident where one child used a paintball gun to shoot a paintball at another child, injuring his eye, was excluded from cover under the parents’ homeowners policy.
The policy covered the insured if a suit was brought ‘against the insured for damages because of bodily
Members’ funds allocated by medical schemes to their members’ savings accounts are trust property in terms of the Financial Institutions (Protection of Funds) Act 2001 (FI Act) and must be accounted for separately.
Section 35(9)(c) of the Medical Schemes Act provides that the liabilities of the medical scheme must include the amounts standing to the
The Constitutional Court recently considered the meaning of the word ‘debt’ in relation to the Prescription Act and found that the word must be given a meaning that is least intrusive on the constitutional right to access to courts.
In Makate v Vodacom (Pty) Ltd the applicant instituted action against Vodacom to compel them to