News & Articles

SURETY AGREEMENTS AND HOW IT AFFECTS YOU

In today’s world many of us will at one stage or another be requested to stand  surety for another person’s or entity’s debt, either for a friend, family or as a director of a company.  Before binding yourself as a surety one should have an understanding of the nature...

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A LIVING WILL

As stipulated in the Bill of Rights everyone has the right to dignity, the right to life and the right to freedom and security of the person which entitles the individual to make informed decisions about his or her life and body. A living will is an advanced directive...

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CREDITORS vs DEREGISTERED COMPANIES AND CLOSE CORPORATIONS

Introduction The Companies Act 71 of 2008 (“the Companies Act”) requires Companies and Close Corporations (“entities”) to be registered with the Intellectual Properties Commission (CIPC) and file their annual returns. The CIPC will place an entity in the process of...

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YOU AND YOUR CHEQUE BOOK

A cheque is a bill of exchange. A bill of exchange is an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at the fixed or determinable future time, a...

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FRAUD AND CORRUPTION IN THE WORKPLACE

Fraud and corruption have reached such proportions in South Africa that almost all political leaders have declared it as public enemy number one. Fraud may be defined as an intentional and unlawful misrepresentation to a third party, which may cause real or potential...

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WHAT TO DO WHEN CUSTOMERS WON’T PAY

 One of the problems most frequently suffered by RMI Members is that of clients handing in a vehicle or engine for repairs, where-after they simply fail to collect the vehicle or cannot afford to pay the bill. While in possession of someone else’s vehicle or engine on...

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UNFAIR CONTRACTS

As a general principle, courts seek to enforce contracts, irrespective of its content.  The applicable Latin phrase pacta sunt servanda literally means “agreements must be kept”.  However, this does not mean that the courts will enforce unfair contracts. In some...

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THERE WHEN YOU NEED US

Businessmen seldom profit from legal intervention, as it is mostly aimed at enforcing a right you already have or collecting money you are already owed. Even if successful, the legal costs associated with enforcing such rights are rarely fully recovered, as fees...

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THE RIGHT OF RETENTION

With the downturn in the global economy, being only one on many challenges, receiving payment from your debtors has become a frustrating task, often leading to costly and time consuming legal process. Unfortunately there is no magic spell to invoke to make all your...

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IMPACT OF BUSINESS RESCUE PROCEEDINGS ON SURETIES

INTRODUCTION: Chapter 6 of the Companies Act 71 of 2008 (as amended) (“the Act”) introduced a system for rescue and recovery of financially distressed companies in a manner that seeks to balance the rights and interests of stakeholders. Section 128 of the Act defines...

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