Contract Law: Effective cause revisited
The transfer process of a property can be exciting for the host of involved parties but what starts off as a zealous stream of positive energy can turn into a disaster. In the competitive real estate industry, if an agent finds himself in a situation where his commission is not certain due to the intervention of competing agents who may actually eventuate a sale despite the initial agent’s hard work.
If Agent A who introduces a prospective buyer to a property which Agent A has a mandate to sell and if he further invests a substantial effort to bring that sale to fruition, he will have earned his commission and a seller who entertains another Agent B (Agent B who may have actually eventuated the sale) will then be liable for double commission and he will have only himself to blame for not protecting himself against such risk... Read More
Banking Law: The legal relationship between a bank and its customers
The relationship between banker and customer is one of a contested nature comprising various legal duties, obligations, and customs.
These various obligations and customs came to afore in the matter between Standard Bank of SA Ltd vs. Sarwan (2002) 3 ALL SA 49 (W). The case commenced when Standard Bank of SA (“the Bank”) instituted action against Sarwan (“the Customer”) for R193 220.70, being the overdrawn balance on the Customer’s account held with the bank. It was common cause that the amount consisted out of a cheque in the amount of R180 000.00 deposited and credited to the Customer’s account where after she effected several withdrawals and transfers before the cheque was dishonoured resulting in the amount of the cheque being reversed and a debit reflecting on the Customer’s account... Read More