WHY YOU MUST MAKE A WILL NOW!
“The best time to plant a tree is twenty years ago. The second best time is now” (Wise advice for procrastinators from ancient China) It’s easy to procrastinate when it comes to making a will. None of us wants to dwell on our mortality, but of course the reality is that it’s a not a […]
BE CAREFUL SIGNING SURETYSHIPS! AND WHAT TO DO WHEN THINGS GO WRONG
R16,6m – that’s how much (plus interest and costs) the High Court recently ordered two sureties to cough up in their personal capacities. The sureties had, as trustees of a property development trust, signed surety for the trust’s loan from a money-lender. The problem with suretyships of course is that you tend to sign them […]
COMPLIANCE CERTIFICATES REVISITED
On the sale of immovable property a number of compliance certificates are required either by law or as a matter of standard practice. The Occupational Health and Safety Act No 85 of 1993 (OHS Act) and the Regulations promulgated in terms thereof provide for an Electrical Certificate of Compliance (ECOC), Electric Fence Systems Certificate (EFSC) […]
WHAT IS THE DIFFERENCE BETWEEN MEDIATION AND ARBITRATION?
You’re not alone if you think mediation is just a variation of litigation, just as arbitration. Most people, even some attorneys, don’t know what the distinction is between mediation and arbitration. But in actual fact they are like chalk and cheese; and in the following paragraphs are a few pointers to give you a clear […]
INSURANCE: THE RISK OF NOT REPORTING
Having your insurance claim repudiated is particularly galling if you’ve been meticulously paying out hefty premiums for years. But take care to comply strictly with all the terms and conditions of your policy contract – not doing so can cost you dearly. R600k down for not reporting Take for example the recent and widely-reported case […]
OWNERS ASSOCIATION LEVIES: “NO BENEFIT, NO PAY”?
No way! As a member of an Owners Association (“Home Owners Association” if it’s a residential property development), you have almost certainly contracted in your purchase agreement to pay all levies raised by the Association, regardless of whether or not you actually benefit from being part of the development. To illustrate – in a recent […]
MINORITY SHAREHOLDERS: YOUR PROTECTION FROM OPPRESSION
How do you as a minority shareholder protect yourself from abuse of position by directors who were voted in by the majority shareholders? You can’t vote them out of office, nor can you control voting at shareholder meetings. Our law comes to your rescue here, allowing any shareholder or director to apply to court for […]
BONDHOLDERS: CAN YOUR DEBTOR DELAY LIQUIDATION?
Debtors faced with liquidation often ask their creditors for time to realise their assets “to best advantage” rather than by “forced sale”. But per a recent High Court decision, creditors are not obliged to wait. A property-owning company, defending itself against a liquidation application brought by the bondholder, was found to be “commercially insolvent” but […]
THE JULY WEBSITES: ARE YOU AN ENTREPRENEUR? AND 10 MISTAKES TO AVOID
“SMEs have been identified globally as the key drivers of creating wealth, reducing poverty and facilitating jobs. In South Africa, it is reported that SMEs contribute 40% of GDP and 60% of the workforce in formal employment.” (SAVCA – South African Venture Capital & Private Equity Association) In other words, we need every new entrepreneur […]
PLAGUED BY A STALKER? HARASSED? FIGHT BACK!
If you or your family are being harassed or stalked in any way, the new ‘Protection from Harassment Act’ has just handed you a new remedy. The Act promises quick, easy and affordable protection for your rights via an application to your local magistrates court for a “protection order” requiring the harasser to stop his/her […]