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South Africa decisions
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Hanuscke Beleggings CC v Kungwini Local Municipality (512/2011) [2012] ZASCA 112 (12 September 2012)
The appeal concerned a municipal land sale subject to suspensive conditions. The Supreme Court of Appeal held the conditions were not fulfilled within a reasonable time and the agreement lapsed.
McPherson v Khanyise Capital (Pty) Ltd and Others (24309/08) [2009] ZAGPHC 57 (27 February 2009)
The court held that the equity sale agreement lapsed due to the non-fulfilment of the suspensive condition, specifically the failure to pay the purchase price within the stipulated period. Any purported extension or revival of the agreement was ineffective, as it was not reduced to writing and signed by all parties, as required by the Shifren clause. The court found that there was no genuine dispute regarding the provisions of the agreement and that the arbitration clause did not preclude the court from deciding the matter. The respondents' various defences, including misrepresentation, unjus…
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Coetzee v van der Walt (2589/2004) [2004] ZAFSHC 112 (25 November 2004)
The court held that the suspensive condition in clause 16.1 required the applicant to obtain a bank loan for the full purchase price within 30 days of signing the contract. The applicant did not obtain such a loan nor did he waive the protection of the suspensive condition before the cut-off date. The approval of the loan after the cut-off date did not constitute fulfilment of the condition. The contract therefore lapsed automatically upon expiry of the cut-off date, and any subsequent actions or explanations were irrelevant. Clause 10, dealing with breach, could not apply to a lapsed contrac…
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