Renegotiating After You’ve Signed: The Email That Ended a Property Sale

After their bond was withdrawn, the buyers were given time to arrange new finance. Instead, one of them emailed the conveyancer saying they would only apply for another bond after the seller repaired an alleged defect or agreed to reduce the price. The seller understood this to mean that the buyers would not proceed on the terms they had already accepted. She cancelled the sale, and the High Court agreed that she was entitled to do so. The buyers lost the sale and the money already paid and faced further financial consequences.

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Was it Even His Signature? How to Overturn a Fraudulent Will

It’s unfortunately all too common a tale. Out of the blue, an older person, rendered vulnerable by age or illness, acquires a new “friend”. Before anyone in the family realises what’s going on, their loved one has died, and the fraudster claims to be sole heir in terms of a last-minute will. No surprise then that our courts must often determine whether a deceased person’s last will was tainted by incapacity, undue influence, fraud, or even forgery. The sad tale of a 90-year-old man who left behind two conflicting wills is a good example of how our courts approach these situations.

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Reckless Lending: You Could Lose Everything

Before you make a loan to anyone, be sure to comply fully with the strict requirements of the National Credit Act.
If you don’t, you could lose your loan entirely, with a recent High Court decision providing a stark reminder of the consequences. The Court declared a R430,000 loan to have been “reckless lending”, leaving the lender (a family trust) to write off the bulk of its loan, lose a decade’s worth of interest, cancel its security bond over a house, and pay legal costs. Why did that happen and how can you, as a lender, avoid the same fate?

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Buying a House: What Costs Will You Pay, and When?

It’s a really exciting time, buying a house, particularly if it’s your first! Don’t forget, however, that you will have to pay a variety of costs over and above the purchase price. What are those costs and when must you pay them? Do they impact your ability to afford the house you have your eye on?
We’ll address those questions with a checklist of costs you should budget for. It’s a good idea to work these into a cash flow forecast so you aren’t ambushed by any unpleasant financial surprises during the transfer process.

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Director Delinquency Declarations: Managing Your Risk

The rewards of company directorship come with a caution: the duties and responsibilities imposed on you by the Companies Act need constant management. Drop the ball on that and you could face some seriously negative consequences. We’ll discuss one of those risks – the career-threatening risk of being declared a “delinquent” director – in the context of two recent court judgments which involved large amounts of money, seriously disaffected stakeholders, and 7-year bans from holding any position at director or senior management level. We’ll end by sharing some thoughts on how you can manage those risks.

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Considering Using Sequestration to Recover Levies? Think Again

Unpaid levies can leave body corporates out of pocket and out of patience. When conventional debt recovery feels too slow, sequestration may seem like the obvious next step. But a recent High Court judgment is a reminder that sequestration is not a debt-collection shortcut. The court refused an application by a body corporate that had failed to meet the strict statutory requirements. Before reaching for the nuclear option, body corporates should understand what the law actually requires.

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