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Filter: Commercial
Voidable Sales: The Insolvency Act and the Sale of Your Business

28 September 2018,  Lloyd Bell

Section 34 of the Insolvency Act No. 24 of 1936 (“the Act”) provides that  if a trader sells in... terms of a contract any business belonging to him, or the goodwill of such business, or any goods or property forming part thereof (except in the ordinary course of that business or for securing the payment of a debt), and such trader has not published a notice of such intended transfer, the sale shall be void against his creditors for a period of six months after such transfer, and shall be void against the trustee of his estate, if his estate is sequestrated at any time within the said period.

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Many benefits for a 51% black owned company

08 August 2018

My start-up business has been growing rapidly and I’m considering bringing a partner on board to invest and help take... the business to the next level. I’m keenly aware of the importance of transformation and have identified a potential BEE partner who is prepared to take up a 51% stake in my business. That said, a new partner is a big decision and I just want to make sure there is sufficient strategic benefit in doing so?

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334
Article
What print or font is too small for a contract?

07 June 2018

I recently bought a second-hand car from a local car dealership. Not long afterwards the car started giving me trouble.... When I took it back to the dealership, they said it was not their responsibility as the contract I had signed transferred all responsibility to me. They showed me the contract, but most of it was printed so small that I couldn’t even read it let alone understand it. Surely I should at least be able to read a contract to be bound by it?

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287
Article
Is the interest-free loan to a trust dead?

08 March 2017

For estate planning purposes a few years ago I moved some of my assets into a family trust and financed... the disposal to the trust with an interest free loan in my name. I understand that recent tax amendments will now impose unfavourable tax consequences on me in relation to this interest free loan. Is this true?

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356
Article
Why you need custom T&C's for your online business

10 February 2017

I’ve recently decided to launch an online business and I am 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 but now it sounds like it must be quite specific. Is this true, or can I just copy terms and conditions from other websites?

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292
Article
The ‘when’, ‘who’ and ‘how’ of taking valid company resolutions

14 December 2016

I’ve purchased a shareholding stake in my dad’s family business. I’ve been part of the family business for some time... but now I’m a shareholder and clueless as to the basics of how the company’s shareholders are supposed to take decisions. What should I know about company resolutions?

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