News & Articles

The principles of share buyback agreements

A share repurchase agreement is used when a company buys its  shares back from one or more of its shareholders or investors. The buyback is also a tax-efficient way to return money to shareholders. Once shares are repurchased they are considered cancelled, but...

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THE IMPLIED WARRANTY IN TERMS OF THE CONSUMER PROTECTION ACT

Section 56 (2) of the Consumer Protection Act, No 68 of 2008 reads as follows: “Within six months after the delivery of any goods to a consumer, the consumer may return the goods to the supplier, without penalty, and at the supplier’s risk and expense, if the goods...

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HORSES FOR COURSES.

WHEN NOT TO INSTITUTE LIQUIDATION PROCEEDINGS AGAINST A CREDITOR. When a company is unable to pay its ordinary day-to-day liabilities, it would generally be considered insolvent.. It would be tempting to action liquidation proceedings against the debtor, but our...

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WHEN SETTLEMENT AGREEMENTS BECOME A CRIME

By Gabriel Smit Settlement agreements are a useful alternative to settling a dispute between parties without resorting to litigation or adjudication by a Court. Even if a process of litigation has commenced, the parties can settle the dispute between them before any...

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Retentions and Storage Costs

The claiming of storage costs by motor vehicle repairers has been the subject of many a legal dispute in the past. Motor vehicle mechanics and panel beaters alike, often only possess limited space in their workshops and cannot retain motor vehicles which have been...

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Retentions and Repudiations

What is the legal position of a panel beater who affected repairs to an insured’s vehicle and subsequently discovers that the Insured’s claim was actually repudiated?   This is exactly what transpired in the matter of McCarthy Retail Ltd v Shortdistance Carriers CC....

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A SHAKE-UP FOR SET-OFF

For years some banks, and other creditors have, without prior notice and without immediate knowledge to its customers, deducted money from their savings- and current accounts for amounts owed in terms of their credit card debt. The legal principle banks and creditors...

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