Introduction It is a well-established principle in South African Law of contract that a party’s obligations are reciprocal, in the majority of contracts concluded. The question is, can a party refuse to perform their contractual obligations on the basis that the other party has not performed properly? To illustrate, by way of a simple example, […]
Contract Drafting
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Effect of the Restraint of Trade in Your Employment Contract
Introduction The provision for restraint of trade clauses may seem simple and employees may be tempted to agree to it when newly employed. However, the effect of the clause is far-reaching and employees must be aware that they are presumed to be familiar with the effect of the clause. Generally, restraint of trade clauses restrict […]
The offer to purchase is a binding agreement!
Introduction The purchase of property, especially for first-time buyers, may seem riddled with legalities and leaves the buyer with many questions around their rights, what they are entitled to ask and uncertainty about their responsibilities to the seller. Understanding the impact of the offer to purchase on the transaction will ensure that the buyer feels […]
Contracts and The Passing of Risk
Introduction It is often the case that when parties conclude a contract of sale, that the time manner and place of delivery can vary. It is therefore important to regulate which of the parties will bear the risk prior to delivery and under what circumstances. One such tool for this regulation is a distribution […]
Can sureties escape liability?
Introduction In a difficult economy, it is seemingly more and more common that commercial agreements require a personal surety from one or more of the directors of a company and often that friends or family seek the assistance of someone to act as surety for credit agreements. Often person’s don’t understand the implications of agreeing […]
