Despite objections at the comments stage, the Registrar of Short-term Insurance has defined a ‘policy’ for the purposes of the Policyholder Protection Rules as a short-term policy where the policyholder is a natural person or a juristic person with an asset value or annual turnover less than the R2 million threshold.
That has ridiculous consequences.
The principle of reciprocity in contracts recognises the fact that in many contracts the common intention of the parties, expressed or unexpressed, is that there should be an exchange of performances.
There is a presumption that interdependent promises are reciprocal unless there is evidence to the contrary.
The common intention is that neither of the
Higherdelta Ltd was the owner of commercial properties including a restaurant in Scotland. Its company secretary, director and shareholder was also the owner of a portfolio of residential properties. The non-disclosure of prior events relating to the personal portfolio was held not to be relevant to underwriting the business policy.
The restaurant was added to
The South African Reserve Bank (SARB) has established a Financial Technology (Fintech) programme to assess the emergence of technological innovations in the financial sector and consider their regulatory implications.
In a statement issued on 13 February 2018, the SARB stated that it ‘takes a balanced approach to technological innovations, considering the potential benefits and risks
Two 2017 US cases illustrate the importance of a notice cancelling a policy complying strictly with the requirements of the policy and the law.
In Las Vegas Inc v Oregon Mutual Insurance Co, the notice of cancellation became effective on a stated future date if the policyholder did not pay the premium by a
China’s Supreme People’s Court has employed Faxin, a legal-services robot, which assists judges in sifting through reports and identifying laws relevant to cases.
Faxin is an artificial intelligence (AI) platform aimed at transforming China’s overburdened legal system. Faxin is not the only such product currently being used in China. FaXiaoTao, a chat bot, matches
Although the Information Regulator is not yet fully operational, it has already received numerous complaints relating to the unlawful processing of personal information under the Protection of Personal Information Act 2013 (POPI). POPI itself is not yet fully in force. We are currently awaiting publication of a revised draft of the regulations following the closure
Concerned with the influence of technology in practicing law, Peking University Law School is looking to bring artificial intelligence (AI) into curriculums by establishing a new AI research centre.
Peking University Law School is partnering with a cloud-based analytical tool Gridsum to launch the research centre which will focus on the possibilities and opportunities
The Ontario Ministry of the Attorney General and the Legal Innovation Zone launched an artificial intelligence (AI) legal challenge to encourage law firms to use technology companies that apply AI to legal applications.
The six finalists each provide a unique approach using AI to solve legal problems in one way or another. Their work also
A sole shareholder and director who had dominant influence over the affairs of the plaintiff company acted fraudulently and paid out the company’s money from its bank accounts for his own personal benefit.
The bank was held liable because on the facts it was found that any reasonable banker would have realised that there were