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Commercial Law

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 business rescue

Business rescue is simply a legal process to assist businesses that are in financial distress

From time to time we get inquiries from business owners whose businesses are struggling financially and who seek advice regarding their options. One of those options is Business Rescue; which is a relatively new commercial concept.

This blog focuses on shedding a little more light on the very complex and technical issue of business rescue and the new Companies Act, which is Act No 71 of 2008; and we are going to focus on Chapter 6 dealing with Business Rescue.

We hope to answer the following question for entrepreneurs and business owners in general:

 private company

 Setting up a company can be a quick exercise if you have done your homework well

The Legal Advice Office recently received the following query via email.

“I have applied for and been approved to open up a small franchise business. The franchisor, however, requires that I run the franchise business in the name of a private company and not in my own personal name. Where do I start this process if I want to register my own private company; and how do I set a private company up.”

 e commerce tC web

Your website T&C's - essentially represent your agreement of use and trade

On Monday we received the following question via email.

 “I’ve recently launched an online business and I am busy setting up my website. My website developer has strongly advised me to look at proper terms and conditions for my website. I’ve always thought these were relatively standard T’s & C’s, but he seems to think they must be quite specific. Must they be specific or can I just copy terms and conditions from other websites?”

verbal agreement

Can you legally rely on a person’s word only instead of a written change in an agreement?

This was the simple inquiry we got the other day.

“Are oral variations of an agreement valid?”

 To illustrate let us take an example:

If, for example, you agree to rent a house from a friend of yours for a fixed period of two years.

You both furthermore agree that you should enter into a written lease agreement and you have a written lease drawn up properly.

Everything goes well until the monthly rental increases come into effect as per the written lease agreement at the end of the first year.

You discuss the situation with your friend who agrees to waive the increase verbally.

But is this sufficient and can you legally rely on his word only?

 mediation web

Many businesses around the world are increasingly opting for mediation as a method of commercial dispute resolution.

We recently received the following question.

 “My company is in business and is quite often embroiled in legal disputes that end in expensive litigation. This takes time, sometimes years, and is not only time consuming, but is expensive and frustrating. I realise that legal disputes are part and parcel of the business environment, but it would be nice if we could resolve some of these disputes faster and with less expense. Have you any ideas as I have heard about the subject “mediation”, but am not sure if this would is a good idea or simply be delaying the inevitable litigation?”

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Legal Advice Office

South Africa

Kandelaar Street, Vermont, Hermanus
Phone: +27 (028) 316 2832
Email: info@legaladviceoffice.co.za