Cancellation as a remedy for breach of contract is only available where the parties have incorporated a right to cancel in their contract, or where the breach is of a sufficiently serious nature to justify cancellation. The contract may expressly state that if one of the parties breaches terms of the contract or fails to … Continue reading
The court refused to uphold cancellation of an agreement of sale for a members’ interest in a close corporation because only a total of R160 000 out of a purchase price of R4 million (96%) was outstanding and three of the appellants had been paid in full. In addition, restitution of the amount already paid was doubtful … Continue reading
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 required … Continue reading