From time to time, foreign investors may wish to secure loans made to South African property owners by means of a mortgage bond and in some cases, the lenders requires the mortgage bond to reflect the amount of the loan in a format with which they are familiar, i.e. a foreign currency of their choice.
Similarly, a foreign purchaser may require that a property purchased in South African is concluded in a foreign currency. Allan West examines the situation where the parties insist that these amounts are reflected in foreign currency values in the deeds office. .. Read More
Every employer strives to become an employer of choice, offering a variety of employee benefits to attract and retain quality staff. A medical aid contribution is one of the most common additional benefits offered to employees, as well as a provident fund contribution being a fairly common benefit that is offered.
It all sounds good and well, however the question that arises is, whether the employee is, according to law, still entitled to these benefits during maternity leave?
According to South Africa’s Basic Conditions of Employment Act (BCEA), all employees are entitled to four consecutive months of unpaid maternity leave... Read More
Civil Procedure: Common law grounds for a rescission application: Moshoeshoe and Another v Firstrand Bank Ltd and Others
The applicants (Mr and Mrs Moshoeshoe) concluded a loan agreement with the first respondent (Firstrand Bank hereafter “the bank”) to purchase their home. The property was pledged as security and the applicants elected the property address as their domicilium citandi et executandi. However, this address was incorrectly recorded. The applicants drew the error to the conveyancing attorney’s attention, who assured them that it wasn’t important, as well as the bank. It was the failure to correct this error which led to the unfortunate trail of events resulting in the current application... Read More