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Legal Updates

NO MAINTENANCE, NO HOMELOAN

Maintenance defaulters are shortly going to find it much more difficult, if not impossible, to buy property, thanks to proposed amendments to the National Credit Act (NCA) regulations. Now with maintenance payments added to the list of debt obligations they must include in their calculations, and maintenance defaults to be included when it comes to…

SUSPENSIVE CONDITIONS… AND THE ‘HARSH’ CONSEQUENCES OF NON-FULFILLMENT THEREOF

A recent Supreme Court of Appeal judgment illustrates the importance of fulfilling suspensive conditions in an agreement and the consequences of not doing so. On 11 April 2007, an agreement relating to a property development was entered into between Pangbourne Properties Ltd (Pangbourne) and Africast (Pty) Ltd (Africast). This agreement was subject to a suspensive…