WAT IS ’N NOULETTENHEIDSONDERSOEK EN WAT IS DIE DOEL DAARVAN?

WAT IS ’N NOULETTENHEIDSONDERSOEK EN WAT IS DIE DOEL DAARVAN?

Dit is algemeen om die term “noulettenheidsondersoek” of due diligence (“DD”) te hoor tydens gesprekke wat gevoer word oor die moontlike koop, verkoop, samesmelting of amalgamasie van besighede, asook in gevalle waar ’n derde party dit oorweeg om in ’n besigheid te investeer. Ten spyte van die feit dat voornemende kopers, verkopers en/of beleggers bekend is met die konsep en prosedures van DD-prosedures, word die noodsaaklikheid daarvoor in baie gevalle misken weens die finansiële implikasies wat dit inhou. ’n DD…

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MEMORANDUM OF UNDERSTANDING: BINDING AND ENFORCEABLE OR NOT?

MEMORANDUM OF UNDERSTANDING: BINDING AND ENFORCEABLE OR NOT?

There is a common misconception that MOUs are always non-binding. MOUs can in fact be binding, non-binding or partly binding and partly non-binding, it all depends on the intention of the parties and the exact wording of the MOU. But uncertainty is rarely a good thing in the context of legal documentation and a poorly drafted MOU containing binding provisions, has the potential to haunt the signatories in Court if the envisaged substantive agreements are never signed. It might also…

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JOINT OWNERSHIP: HOW DO I TERMINATE WITHOUT THE CO-OPERATION OF THE OTHER JOINT OWNER?

JOINT OWNERSHIP: HOW DO I TERMINATE WITHOUT THE CO-OPERATION OF THE OTHER JOINT OWNER?

Nature of joint ownership: Joint owners own undivided shares in the property which they own jointly. Consequently, the joint owners cannot divide the joint property while the joint ownership remains in existence, and a joint owner also cannot alienate the property or a part thereof without the consent of the other joint owner. The rights in respect of the joint property need to be exercised jointly by the owners thereof. Ways in which joint ownership can arise: Joint ownership can…

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REVENGE PORN ON THE RISE: LEGAL RECOURSE IN SOUTH AFRICA

REVENGE PORN ON THE RISE: LEGAL RECOURSE IN SOUTH AFRICA

In the digital era we find ourselves in – with the web, social media, smartphones and the ‘screenshot’ – it has become much easier for people to engage in a phenomenon known as ‘revenge porn’. This term is defined by the Merriam-Webster Dictionary as “sexually explicit images of a person posted online without that person’s consent especially as a form of revenge or harassment”. In South Africa, revenge porn is a growing problem with women being the main victims. Studies…

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BEFORE LEASING, INCLUDE THESE IN THE AGREEMENT

BEFORE LEASING, INCLUDE THESE IN THE AGREEMENT

If you consider leasing out your property, it is important not to overlook any requirement and expectations you may have of the incoming tenant. A basic lease agreement should at least have the below stipulated in detail: Basic information This includes the details of those who are party to the agreement, the address of the property being leased out, and the lease period. A deposit and other fees The purpose of a deposit is to ensure that, should there be…

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COURT INTERFERENCE IN A CONTRACTUAL RELATIONSHIP

COURT INTERFERENCE IN A CONTRACTUAL RELATIONSHIP

When two or more parties enter into a contractual agreement knowingly and free from duress, the terms of the agreement must be upheld by each signatory. However, it must be noted when the contract is entered into under pacta sunt servanda, which means “agreements must be kept”, principles of fairness, good faith and reasonableness don’t play a part when circumstances leading to contract breach arise. With regards to property law, for example, if a lease agreement states a date on…

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RENTAL RIGHTS DURING THE WATER CRISIS

RENTAL RIGHTS DURING THE WATER CRISIS

As a constitutional right, everyone should have access to clean water. Even during a water crisis. In cases where there is a signed agreement between a tenant and landlord pertaining to the supply of water, the obligations stated in the rental agreement should be met by the respective party. Should one of the parties fail to oblige, the agreement may be terminated. Parties to this contract should, however, understand the changes that come with crises. Common law recognises any crises…

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DOES SOUTH AFRICA HAVE A PUBLIC RETIREMENT INSURANCE SCHEME?

DOES SOUTH AFRICA HAVE A PUBLIC RETIREMENT INSURANCE SCHEME?

My husband’s employer made provision for an occupational retirement vehicle, but my employer refuses to do so. Is there any possible recourse for me in this situation? There is currently no public retirement insurance scheme in South Africa. This is quite a predicament for most South Africans, as the majority of persons employed in the informal economy would have to rely on an old age grant (which is currently R1, 690.00 and will increase with R10.00 on the 1st of…

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There is a way to keep the view

There is a way to keep the view

When you purchase a house with a view, you probably think that you are going to enjoy this view every day for the rest of your life. Until you receive a flyer with a picturesque multi-story building guaranteed to block your view. This will definitely result in a few disputes that will leave you wishing you had secured your view. Right to the view Just because the property has an unrestricted view, it does not mean that the view is…

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HOW BINDING ARE BODY CORPORATE FINES?

HOW BINDING ARE BODY CORPORATE FINES?

In an estate or sectional title scheme, it is challenging to ensure that everyone will stick to the conduct rules and to aid this, body corporates often fine the chancers. How far can the body corporates stretch their fining, and are these fines binding? Each body corporate may choose what to impose formally in their code of conduct unless a rule is already part of the conduct rules in terms of the Sectional Titles Act. This is the only way…

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