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Commercial Law

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“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.

 Business rescue or liquidation

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?”

Early Termination of Leases and Fixed Term contracts
To Stay or To Go: Is it Worth it?

Lease cancellations:

Section 14 of The Consumer Protection Act No 68 of 2008 (CPA):

In our last blog, we looked at the wording of the whole of section 14 (3) and commented extensively on its content and the background to the section.

Today we will concentrate on section 14 (4) of the CPA and also comment on section 14 as a whole as it relates to a fixed term contract and particularly the cancellation of lease agreements.

shareholders meeting web

How, when and who must make valid company resolutions?

“My father owns a family run business and I have just bought a shareholding in that business. I’ve been part of the family business for some time; but now that I am a shareholder and director of that business; it has dawned on me that I know very little about how a company is run in practice and how the company’s directors and shareholders are supposed to take decisions. What should I know about company resolutions and what is my role in those resolutions and the decisions made by the directors of the company?”

break lease agreement

You can not just pack up and move out.

The termination or cancellation of a commercial lease agreement/s is always a legal conundrum.

One of the matters that we specialise in is Consumer law and also in lease agreement cancellations and terminations.

It is a contract and must be dealt with correctly and legally if you want to cancel it or terminate it prematurely ie before its expiry date.

You cannot just cancel a lease agreement.

If you breach the lease and simply vacate and abandon the premises the High Court can grant the landlord an order for specific performance.

This can mean that the court orders you to return to the premises and pay the rental for the balance of the lease period. Alternatively, it can allow the landlord the right to cancel the lease because of your breach and grant an order for damages in favour of the landlord being equivalent to the rent due for the balance of the period.

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