When Does a Property Defect Justify Cancellation? A Costly Case of Buyer’s Remorse
“Buyer’s remorse” is a well-known phenomenon that’s led many a property buyer to cast around desperately for a means, any means, to escape the sale they’ve just tied themselves into. Be careful here – cancelling a sale without sound legal grounds will be a very costly mistake. To illustrate, we discuss a recent High Court […]
Who Appoints the Conveyancer? Your House, Your Choice
“A man’s home is his castle.” (Sir Edward Coke, English common law ruling, 1604) Of course, what we all want to hear at the end of our house-selling journey is something like this: “Congratulations! You sold for a good price, the buyer’s taken transfer and you’ve been paid the purchase price. Time to pop the […]
Contracting with Trusts – Is a Majority Resolution Valid?
Many of us will either be involved in trusts as trustees or will contract with them as outsiders at one time or another – often in the context of a property transaction.
Beware! As a recent Supreme Court of Appeal decision starkly reminds us, trusts are strange creatures, and you need to tread carefully in dealing with them. We’ll look at questions of whether trustees must always act jointly and unanimously or whether it is enough for a majority of them to sign resolutions and documents. Our punchline is a strong warning note on what to look for when contracting with any trust.
Exemption Clauses in Contracts – Fine Print Can Void Them
“… he did not think that he was binding himself ‘to all sorts of fine print that I can’t even read’.” (Extract from judgment below, describing evidence given by the customer during the trial) For suppliers of goods or services, incorporating a strong, clearly worded exemption clause (a clause excluding or restricting your liability to […]
Don’t Risk Consequential “Loss Of Profits” Damages: Check Your Contracts And Insurance!
“Consequential Loss: This is loss not directly caused by the insured event but is an indirect result of the event. This is loss or damage that was not foreseen by the insurer or the policyholder at the time the policy was taken out. Consequential loss is in many instances not covered and cover is dependent […]
Eviction Refused – Landowners, Unlawful Occupiers And The “Just And Equitable” Test
“PIE recognises that in appropriate circumstances the right to full exercise of ownership must give way, in the interest of justice and equity, to the right of vulnerable persons to a home.” (Extract from judgment below) “Unlawful occupiers” of land have strong rights under our Constitution and other laws, and most property owners and landlords […]
Your Written Contract Should Cover Everything – No Oral Evidence Allowed!
Here’s another warning from our courts to make sure that all your contracts are properly drawn to reflect both accurately and fully what you have agreed to. The problem with leaving anything out – or agreeing to something that isn’t then fully recorded in your contract – is a principle in our law known as […]