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Everyone’s eyes are on Zimbabwe’s author, and only because his most recent e-book is competing for the Booker Prize.
Welcome to the first episode of our new commercial law and tax podcast, presented through publisher Evan Pickworth.
In this episode he addresses the president of ENSafrica, Professor Michael Katz; Professor Dale Hutchison, who leads ENSafrica’s internal studies unit, and Julius Oosthuizen, co-director of ENSafrica’s business branch, on the concept of ubuntu in advertising contracts, a subject to which the Constitutional Court has provided much clarity, want clarity. .
What does this mean for senior management and others?We focus on how to adapt long-term advertising contracts to disappointment.
The force of a court to annul or refuse to execute a contract it considers unfair, unduly serious or unreasonable has been debatable in South African law for some time. An unequivocal ruling by a constitutional court on the matter was much needed, and he recently gave the impression in the Beadica CC v case. Trustees for the time being of the Oregon Trust.
In that case, the National Empowerment Fund entered into an agreement with a franchisor, Sale’s Hire CC, to finance the acquisition of franchised businesses through former Sale’s Hire workers as part of an extensive black economic empowerment initiative.
Workers created personal corporations that entered into 10-year franchise agreements with Sale’s Hire, as well as rentals with the Oregon Trust, of which Mr. Sale (the sole member of Sale’s Hire) is a trustee.
The rents were for a period of five years, with a new renewal option of five years, which (as in previous contracts) had to be exercised in writing no later than six months before the first lease expired.
Tenants did not exercise their renovation rights on time and were begged to leave the premises some time before the expiration of their lease.
In the court ruling, which set a precedent, a majority of seven to three opposed tenants, clarifying the remedy of fairness, public order and ubuntu to determine the validity of advertising contracts.
However, it also stresses that careful balance is needed: the precept that freely concluded contracts must be fulfilled is not the only one, not even the vital maxim, a provision guiding judicial review of contracts.
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Published through Arena Holdings and distributed with Financial Mail on the last Thursday of each Month of December and January.
Published through Arena Holdings and distributed with Financial Mail on the last Thursday of each Month of December and January.
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