Archive for May 2011

THE “BLIND SIGNED” SURETYSHIP THAT COST A FARMER R8 MILLION

Yet another warning to read what you sign – and understand it – comes from a recent Supreme Court of Appeal case in which a farmer was held liable – as a surety – for a debt of R8m owed by a farming trust to a creditor. Although a trustee of the farming trust (“only…

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WARNING: LAST-MINUTE SURPRISES IN THE CPA!

Consumers and suppliers must deal with several last minute surprises sprung on us when the Consumer Protection Act (“CPA”) came into effect on 1 April, including: – The asset or annual turnover level at which “juristic persons” (corporates, partnerships and trusts) are deprived of most consumer rights under the CPA was expected to be set…

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