Can losses be distributed out of a trust?
On 18 March 2021, the Supreme Court of Appeal delivered judgment in the case of Massmart Holdings Limited v The Commissioner for the South African Revenue Service. The case dealt with losses which were incurred within the broader Massmart group in respect of the investing of equity instruments as part of an employee share incentive scheme. The mechanism of […]
Understanding the full community of property
In the case of CM v EM it was held in the Supreme Court of Appeal of South Africa (“SCA”), case number 10861/2018, that: “The value of the Respondent’s right to future annuity payments in respect of Personal Portfolio Living Annuities (“the living annuities”) from Glacier Financial Solutions (Pty) Ltd, a member of the Sanlam […]
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 […]
WHOSE MESS IS IT ANYWAY?
As a point of departure, the doctrine of vicarious liability means that the employer is held liable for the wrongful acts or omission of its employees. The difficult issue which one needs to examine when dealing with these sorts of cases is to establish whether the wrongful act arose in the course of the employee’s […]