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Paulsen and Another v Slip Knot Investments 777 (Pty) Limited is a decision of the Constitutional Court of South Africa.In a judgment delivered on 24 March 2015, a majority of the court overturned the Supreme Court of Appeal's decision in Standard Bank v Oneanate, which had established a pendente lite exception to the in duplum rule.
The first South African company legislation was the Companies Act [3] of 1926, which was based on the Transvaal Companies Act, [4] which was in turn based on the British Companies (Consolidation) Act 1908. The next major South African legislation in this area was the Companies Act [5] of 1973, which remained in force until 31 April 2011.
South Africa's nine provinces each produce a number of statutes a year, in areas for which they have either concurrent, or exclusive, legislative competence under section 104 of the Constitution of the Republic of South Africa Act, 1996. (See Schedule 4 of the Constitution for a list of the functions areas in respect of which a province may ...
A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities.It therefore can exhibit aspects of both partnerships and corporations.
"subordinate legislation made in terms of a provincial Act"; and "legislation that was in force when the Constitution took effect and that is administered by a provincial government." [6] There are a large number and variety of statutes in South Africa—including Acts, ordinances, proclamations, by-laws, rules and regulations.
Countries (in pink) which share the mixed South African legal system. South Africa has a 'hybrid' or 'mixed' legal system, [1] formed by the interweaving of a number of distinct legal traditions: a civil law system inherited from the Dutch, a common law system inherited from the British, and a customary law system inherited from indigenous Africans (often termed African Customary Law, of which ...
The law of agency in South Africa regulates the performance of a juristic act on behalf or in the name of one person ("the principal") by another ("the agent"), who is authorised by the principal to act, with the result that a legal tie (vinculum juris) arises between the principal and a third party, which creates, alters or discharges legal relations between the principal and a third party.
In 1982, Florida adopted an LLC act modeled on Wyoming's LLC Act. [57] Due to uncertainty over the tax treatment of LLCs, no other states introduced LLC legislation until after 1988. [ 58 ] In 1988, the IRS issued a revenue ruling stating that it would treat a Wyoming-style LLC as a partnership for tax purposes. [ 59 ]