While we are accustomed to declaring a contract valid based on its physical existence, our increasing shift to online communication and documentation requires us to review our definition of a document’s ‘validity.’ The United Nations Convention on the Use of Electronic Communications in International Contracts (New York, 2007) establishes the general principle that communications are…
If a company is undergoing business rescue, the Companies Act states that it is immune to the commencement of any ‘legal proceeding,’ without the written consent of the business rescue practitioner. However, the phrase ‘legal proceeding’ is not defined by the Act. The Supreme Court of Appeal (SCA) was required to scrutinise two critical questions…
Cybercrime is no longer a rare occurrence. Between 70% and 80% of South African adults have been victims of cybercrime, and it is estimated that cybercrime cost the South African economy approximately R5.8 billion in 2014. Cybercrime comes at an ever-escalating cost to individuals and businesses, and requires clear legislation. This legislation begins with protecting…
In this month’s issue, we discuss the new SVDP for offshore assets, an exception to the voetstoets clause, and how the POPI Act will impact your business. We also welcome our new associate, Jonathan Montgomery.
The introduction of the Protection of Personal Information (POPI) Act provides consumers with the security and knowledge that their data will only be used for sanctioned purposes. However, this has a significant impact on businesses, which have enjoyed the benefits of mining the data of consumers to add value to their businesses and inform their…
The voetstoots clause has historically been championed as a sound defence mechanism for a seller to contract out of liability against a buyer’s claim based on a discovery of a latent defect. However, recent case law has held that this defence falls away in the case of a seller behaving fraudulently. A ‘defect,’ as defined…
This year’s Budget Speech for 2016/2017 saw the announcement of a Special Voluntary Disclosure Programme (SVDP). This programme, devised in the context of the new global standard for automatic exchange of tax information between countries, allows non-compliant taxpayers to voluntarily disclose their offshore assets and income. As SARS will start receiving this information from 2017,…
We’ve kicked off business-as-usual for the New Year and are excited to make a couple of announcements.
