Northview Shopping Centre (Pty) Ltd v Revelas Properties Johannesburg CC and Another (275/09)
Northview Shopping Centre (Pty) Ltd v Revelas Properties Johannesburg CC and Another (275/09) [2010] ZASCA 16; 2010 (3) SA 630 (SCA) ; [2010] 3 All SA 422 (SCA) (18 March 2010)
The Supreme Court of Appeal held that, in the absence of written authority given by the member of a close corporation to an agent who is not a member, a contract for the sale of land signed by such an agent is invalid under s 2(1) of the Alienation of Land Act. The court distinguished between functionaries (members of close corporations or company directors) who may bind the entity without written authority, and agents who require express written authorization. The omission of an equivalent provision to s 69 of the Companies Act in the Close Corporations Act was found to be deliberate, and pa…
Source excerpt
- Alienation Of Land Act
- Written Authority
- Agency
- Close Corporations
- Specific Performance