Commercial Law
If you market, buy or sell immovable property on a regular basis you will at some stage be faced with Rights of First Refusal and Options. Although they might be similar in nature, they have core differences. Failure to understand these differences is simply not an option. In both cases you will have a grantor […]
Read more...In terms of Chapter 6 of the Companies Act 71 of 2008 (hereinafter referred to as “the Act”) a company, which is financially distressed, may be placed under business rescue. The business rescue proceedings may be commenced with either through a valid resolution passed by the board of directors or through an application made to […]
Read more...The woes of Steinhoff have been in the news since December 2017. As has been widely reported in the press, the share price of the company fell by about 95% after it became known that the company materially overstated its profits and materially understated some of its liabilities. The board of Steinhoff consisted of eminent […]
Read more...I am employed as a temporary employee and my employer is now withholding commission I am entitled to in terms of our verbal employment agreement. Temporary employee: An employment situation where an employee is expected to remain in a position for a certain period of time. Temporary employees may have the opportunity to achieve permanent […]
Read more...What does “Offer + Acceptance = a Contract” mean? A contract is in our Law created where parties reach consensus on the essential elements of the specific contract. Where formality requirements are prescribed, the contract will only be binding if these have been complied with. Consensus is in most cases reached by one party making […]
Read more...VAT is payable to SARS by the seller together with any other VAT payable to SARS for the cycle in which the purchase price was received by the seller irrespective of when the contract of sale was signed. Transfer duty is payable within 6 months from the date of signing of the agreement, failing […]
Read more...I would like to buy a business. Should I buy the shares of the company owning the business or rather the business itself? The company might sometimes have assessed losses, which would be available to you as purchaser for tax purposes. From that point of view the temptation would be to rather take over the […]
Read more...Ja as algemene reël. Die koers op natuurlike persone van toepassing, naamlik 40%, geld. Verder geld dit ook (soos in die geval waar kapitale bates van die hand gesit word) slegs ten opsigte van die kapitale wins sedert 1 Oktober 2001 gemaak. Kapitaalwinsbelasting geld verder nie ten opsigte van sekere bates wat vrygestel word nie, soos die oorledene se […]
Read more...Most of you use standard forms for a contract of sale of the property. There is nothing wrong with this, as long as the form is properly drafted. It is, however, very important to also fill in the form correctly. The following mistakes are often made:- * The amounts (normally the purchase price, the deposit […]
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