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Fourie Stott Independent Trustee

Independent Trustees

Family Trusts : Independent Trustees South African legislation does not specifically require the appointment of independent trustees. There is however, a duty on trustees to act in the best interests of the beneficiaries. The Supreme Court of Appeal, in Land and Agricultural Bank of South Africa v Parker and others 2005 (2 )SA 77 (SCA) .. read more

Fourie Stott what is a cession

What is a cession

Legalese: Cession A common clause in an agreement, is one that stipulates that one party’s rights in terms of the agreement may not be ceded without the prior consent of the other party. What is a cession? A cession is the transfer of a personal right from one person to another. A common example of .. read more

Fourie Stott Bond Approval

Bond Approval

Do you have to secure bond approval before a sale agreement? Many sale agreements require the purchaser to secure bond approval before the agreement becomes binding. Sometimes it is not clear when this is actually obtained because there are different stages to the bond approval process. When is your sale agreement secured by a bond? .. read more

Fourie Stott Sectional Title Disputes

Sectional Title Disputes

The Sectional Title Schemes Management Act 8 of 2011 and the Community Schemes Ombud Service Act 9 of 2011 came into operation in 2016. Both Acts introduced various changes to sectional title law in South Africa. One of the notable changes is the establishment of an Ombud service to resolve sectional title disputes. In terms .. read more

Fourie Stott Witness

Witness

Witness: What does this word mean? A witness in the context of written documents is a natural person who is physically present when a party signs an agreement to confirm that he/she saw that party sign the document. A competent witness is commonly defined as a person of at least 14 years of age and .. read more

Fourie Stott Breach of Contract

Breach of Contract

Breach of Contract – What does this mean? A breach of a contract means the failure of one party to meet that party’s obligations in an agreement. This can come about by either doing something a person was obliged not to do or failing to do something they were obliged to do. What are the .. read more

Fourie Stott Domicilium citandi et executandi

Domicilium citandi et executandi

Domicilium citandi et executandi – What does this mean? Domicilium citandi et executandi, roughly translated, means the physical address at which legal notices and process (eg summons) can be served on you. A post office box address is not sufficient for the purposes of service of legal process and should be avoided. What are the .. read more

Fourie Stott Small Claims Court

Small Claims Court

Small Claims Court – When is it the right option? Whilst we as a firm do our utmost to render our legal services at a reasonable cost, the nature of litigation is such that a successful litigant may not be able to recover all amounts claimed from a defendant if that defendant has no executable .. read more

Fourie Stott Voetstoots

Voetstoots

Voetstoots – What should a Buyer and a Seller do? Voetstoots is a standard clause in an immovable property sale agreement which protects the Seller, stating that the property is purchased “as is”.   It is critical that Buyers inspect their prospective immovable property with a high degree of care and diligence. We highly recommend .. read more

Fourie Stott What is a Notary

Notary

What is a Notary? A notary is an attorney who has passed an additional specialist exam. And who has been admitted as one by the High Court. They are afforded a high degree of trust, and in return are expected to act with the highest degree of good faith. There are some common areas in .. read more