Nathylzulu

QUESTION 1 Johannes, Phineas and Beauty are Mnandi CC’s members. Beauty has discovered that Phineas concluded a contract on behalf of Mnandi CC for the purchase of a yacht without consent of any of the other members. She is of the opinion that Mnandi CC should not be bound to the contract because the corporation’s main business is catering. In addition, she shows you the association agreement which stipulates that only Johannes is authorised to conclude contracts on behalf of Mnan...

Simphiwe owes a total of R3 million to various creditors. His creditors include Tebogo to whom he owes R400 000. He also owes R1,3 million to BFN Bank. Last year Simphiwe invested in a get-rich-quick scheme and as a result he lost a lot of money. This left him in a dire financial situation. By 31 October 2023 his liabilities exceeded his assets by R800 000. Over the past few months Simphiwe has failed to pay some of his debts. In particular he failed to pay the R400 000 he owes to Tebo...

ASSIGNMENT 02 Question: 1 Barbara is a business rescue practitioner of Thirsty Elephants (Pty) Ltd, a company that is under business rescue. She convenes a meeting of the creditors of Thirsty Elephants (Pty) Ltd to discuss and vote on the business rescue plan. The business rescue plan contains ample provisions that protect the interests of the secured creditors of Thirsty Elephants (Pty) Ltd. Winelands Packers (Pty) Ltd, a secured creditor of Thirsty Elephants (Pty) Ltd holding 27% of t...

Seun and Jan, new lawyers in the market, are debating on how one of their accountant friends, Sara-Lee will be able to raise an amount of R100 000.00 to compensate Sani Jacobs for the damage she caused to his car in an accident. Sara-Lee was sent by the employer to perform audit work at the SABC. As she was running a bit late, she drove the employer's car at a high speed and negligently hit Sani Jacobs’ car. SaraLee could have easily avoided the accident if she was driving at the req...

Read the following case: South African Legal Practice Council v Catharina Johanna Van Der Merwe Case Number 58532/19 and answer the questions here below.