Apr '19
“My wife and I are the sole shareholders of our family business - what is our personal exposure?”
The legal liability of directors and shareholders in a Company.
In these difficult financial times and with our economy struggling a lot of private individuals and businesses are under severe financial pressure.
How do you survive?
A few weeks ago we did a blog of retrenchment and that was aimed at employees.
Today we turn our attention to businesses and specifically companies.
Apr '19
PRESCRIPTION DOES APPLY IN CRIMINAL CASES, BUT WITH LIMITATIONS AND IMPORTANT EXCEPTIONS FOR SERIOUS CRIMES.
Prescription of Criminal offences:
Every so often we get a query about a previous criminal record from a client.
Very often these queries relate to how they can expunge a criminal record from some time ago.
However; we had an interesting inquiry last week.
Essentially the question is about the prescription of criminal offences.
In this blog we will try to answer this question.
Apr '19
Let me comment in general terms. You cannot just cancel a lease agreement.
The Termination of Commercial and Residential Lease Agreements:
A summary:
The termination or cancellation of a commercial lease agreement/s is always a legal conundrum.
One of the matters that we specialise in at The Legal Advice Office is Consumer Law and one of the two topics that we concentrate on is lease agreement cancellations and early terminations.
We deal with both residential leases and commercial lease cancellations.
We get many enquiries from tenants who are under considerable financial pressure in these tough economic times who seek our advice and assistance regarding their leases.
Apr '19
Defective Motor Vehicles: The choices of a repair, replacement or a refund.
The Consumer Protection Act No 68 of 2008 (CPA).
One of the matters that we, at The Legal Advice Office, specialise in is the topic of defective motor vehicles.
We get many queries at The Legal Advice Office each week from people you want our help regarding the purchase of defective or damaged motor vehicles.
This last week we got a rather cryptic inquiry:
“ I have read in one of your blogs of some time back that if I were to buy a defective motor vehicle, or “ a lemon” as you referred to it as; that I have the choice of a repair, a replacement or a refund at the dealer’s expense. Is this true; and if it is; when and how do I go about doing so; as I have definitely bought “a lemon” from a dealership in Boksburg?”
Mar '19
The answer to this question is not a simple one
At The Legal Advice Office; we receive daily inquiries on a number of issues which affect the daily lives of the people around us.
On Friday we received the following question and query and will answer it in this blog.
“I have been divorced for some years now and have been paying maintenance to my ex-wife and my two children for a five of years; ever since our divorce was finalised in the High Court in Cape Town in 2013. My eldest son has now finished school and he wants to go to university. My ex-wife is now insisting that I must contribute to his university studies as part of my maintenance obligations. Surely now that he is an adult and eighteen years old, my responsibility to maintain him will have stopped?”
Mar '19
In this day and age and in the light of very difficult economic realities in the RSA, a lot of employees have to be aware that companies are struggling financially.
Even large blue chip companies are being effected and have to constantly plan ahead in order to retain a competitive edge over their competition.
Just this last week, Standard Bank has announced that it intends to close 91 branches and that this will affect about 1200 employees. A short while ago,
Absa announced a restructuring plan which will result in the possible retrenchment of about 800 employees.
I was recently asked to do a piece on retrenchment.
Mar '19
Sellers contemplating an instalment sale agreement containing interest charges should take careful note of the steps to be taken before concluding the sale agreement
The National Credit Act No 34 of 2005 has some wide-ranging applicability on immovable property instalment sale agreements.
Here is a case study to illustrate and understand the implications of The National Credit Act based on an inquiry our office received this last week :
“I own a property in Muizenberg, Cape Town. A buyer is interested in buying my flat. Her bank is not prepared to give her a loan because she is paying off a few personal loans, but she is prepared to enter into an instalment sale agreement to pay the purchase price in instalments over a period of time, much like a rental. I like the idea of at least getting a monthly income, but I am worried whether I can do this and charge interest on the instalments, particularly as it will take a few years for her to pay the price in full?”
Mar '19
SASRIA is the only insurer in South Africa that provides cover for damage caused during these kinds of incidents.
The Legal Advice Office received the following query in on Friday.
“Good morning. I am a business owner in Hermanus and have a query regarding insurance.
With all the civil unrest which happened in our town during 2018; and although I did not, as yet, suffer direct damage to my business premises or any of my other business assets; I have suffered severe financial loss of income loss. However; I have been wondering whether insurance companies are obliged to pay out insured persons or companies whose property was in fact damaged by these incidents.”
Feb '19
It is irrelevant whether a product failure or defect was latent (hidden) or patent (visible), before taking delivery of the item.
If you’ve bought a defective product, it is comforting to know that, in terms of the Consumer Protection Act (CPA), you as the consumer, are not without remedy. But to investigate your options, you must understand what the CPA provides for and what your legal rights are.
Feb '19
What is the difference between the two legal processes?
In the current tough economic trading conditions; there are many businesses that are under severe financial pressure.
Yesterday we received the following query and will again try to answer the question put to us here in this blog.
“My family business is a company and has been operating successfully for nearly 20 years. Over time I’ve also managed to get a few investors to invest money in the business. 2018, however, has been really tough and we are struggling to make ends meet. I feel that we have arrived at a point where its decision time about the future of the business and how to manage it. I was wondering whether you can advise me as to whether or not liquidation is the best route to follow and perhaps you might advise me to rather consider the option of business rescue. Could you please also explain the difference between these two options?”
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Latest News
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The personal liability of directors and shareholders for a Company’s debts
Linda 2019-04-22
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Do Criminal Offences prescribe and fall away?
Legal Advice Office 2019-04-15
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The Cancellation or Early Termination of a Lease Agreement is a Conundrum
Legal Advice Office 2019-04-08
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Consumer Law: The purchase of “a lemon”: Your Choices.
Legal Advice Office 2019-04-01
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When does a parent’s duty to pay maintenance for a child cease?
Legal Advice Office 2019-03-24
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