CAN I BE HELD PERSONALLY FOR THE MISCONDUCT OF MY NON-PROFIT ORGANISATION?
I am a director of an NPO. Can I be held liable in my personal capacity for damages caused by or debt incurred by the organisation? I thought that I was doing something good. What does it mean to carry on business recklessly? Can I be held accountable if I knew about dodgy transactions but it was not my signature on the […]
WHO TAKES THE FALL FOR SPILLAGE INCIDENTS IN SHOPPING CENTRES?
This question of liability amid spillage cases has never been fully settled in our law until recently when the case of Holtzhausen v Cenprop Real Estate (Pty) Ltd and Another [2021] 2 All SA 457 (WCC) created some doubts on the legal position of an owner or manager of a shopping mall in “spillage cases”. Spillage cases […]
UNDERSTANDING THE DEBT REVIEW PROCESS
In these difficult economic circumstances, you may find yourself in a position where you are unable to pay your debt. The National Credit Act makes provision for debt management in the form of debt review by making an application to the court to restructure the payment schemes of all your creditors. It may be a […]
THE ECONOMIC IMPACT OF THE PANDEMIC
A business interruption insurance policy typically caters for a decrease in turnover or profit (depending on the type of cover); an increase in operating expenses and a move to a temporary location (if necessary). The question arises whether or not COVID-19 qualifies as an insured event which could lead to a valid and enforceable insurance […]
FAKE NEWS, REAL DAMAGES
In the digital age, information is everywhere. At the click of a button a message can travel across oceans in the time it takes to blink. For the large part, it’s an incredible testament to human invention. But for some part, as with the spread of destructive fake news, it reveals our ugly side. In […]
DOES FORCE MAJEURE APPLY DURING COVID-19
Common Law position – in absence of a “force majeure” clause A force majeure is an act of God or man (such as a war, strike, riot, crime, plague, or an event described such as a hurricane, flood, earthquake, volcanic eruption, etc.), that is unforeseeable, out of the reasonable control of the parties to a […]
IS IT TIME TO SAY GOODBYE TO YOUR BUSINESS?
South Africa has been experiencing very slow economic growth and international rating agencies have subsequently downgraded South Africa’s investment outlook to “junk status”. This, and a myriad of other factors, have negatively impacted South African businesses, especially small and medium business enterprises. Many of these struggling enterprises are now at a crossroads: do they continue […]
CORPORATE GOVERNANCE – FINANCIAL YEAR-END OF A COMPANY
Every company has a financial year. A company’s financial year is any 12-month period that the company uses for accounting purposes. The financial year-end of a company is usually the end of any quarter, such as the end of February, June, September or December. Even though the financial year of a company is usually a 12-month period, […]
VALUATION METHODS
A business valuation is a process whereby a value is placed on a business or a business unit, based on the historical and projected financial performance of the business. It is critical, as a shareholder or business owner, to know what your business is worth in order to make sound business decisions and maintain ongoing business strategy. These decisions can include evaluating or negotiating a possible sale of the […]
INTERNAL VS EXTERNAL MARKETING
What is internal marketing and what is external marketing? Why is it important for companies to understand these concepts? Because happy internal clients mean happy external clients! What is internal marketing? Internal marketing refers to the process of motivating and empowering employees to work as a team for the overall wellbeing of the company and consequently, the […]