Klaas v Summers and Others (4407/2004)
Klaas v Summers and Others (4407/2004) [2007] ZAWCHC 76; 2008 (4) SA 187 (C); (10 December 2007)
The court held that the applicant's conduct in executing the acknowledgments of debt did not amount to representing the corporation as contemplated by clause 13.1 of the association agreement. The instructions to pay his creditor were personal and did not purport to bind the corporation in dealings with third parties. Even the undertaking regarding the vessel arrangement was expressly personal and non-representative. The court found that, even if the applicant's conduct could be construed as representing the corporation, there was no evidence that any breach was material so as to justify forf…
Source excerpt
- Close Corporation Membership
- Association Agreement Breach
- Removal Of Member
- Valuation Of Members Interest