FIXED TERM AGREEMENTS – Expiry, cancellation and renewal

Applicable sections of the Consumer Protection Act, 68 of 2008: S 14, Schedule 2 clause 3(2)

Applicable sections of the Consumer Protection Act Regulations: R 5, Annexure B

Fixed term agreements are contracts of a definite duration.  Cellular phone contracts, gym contracts, armed response / security contracts, educational institution contracts and property leases are all examples of fixed term agreements.

In today's fast track world of business and with people having to make business decisions a lot quicker, one would think that the process of finding staff would need to work on the same basis. But yet when it comes to that process thing seem to take longer than expected. Companies...

THE RIGHT TO RETURN GOODS

Applicable sections of the Consumer Protection Act, 68 of 2008: S 16, 19 (5) & (8), 20, 55 (3), 56

A consumer has various rights of return in terms of the Consumer Protection Act.

The five instances where a consumer may return goods to the supplier are:

·         Unsafe or defective goods may be returned for a repair, replacement or refund within 6 months of delivery. The consumer may choose whether he wants the item repaired, replaced or receive a refund. If the consumer allows the supplier to repair, then the repair must last for at least three months. If the same fault re-appears or another defect appears within three months of the repair being effected, then the supplier must choose whether to replace the item or refund the consumer. At this stage, a further repair is not an available option.

Who are the Buyers?

Buyers buy businesses for many of the same reasons that sellers sell businesses. It is important that the buyer is as serious as the seller when it comes time to purchase a business. If the buyer is not serious, the sale will never close. Here are just a few of the reasons that buyers buy businesses:

The second question you have to consider is: "Do you really want to sell this business?" If you're really serious and have a solid reason (or reasons) why you want to sell, it will most likely happen. You can increase your chances of selling if you can answer yes to the second part of this question: "Do you have reasonable expectations?" A yes answer to these two questions means you are serious about selling.

Following, in the next couple of articles, are some of the most common topics and questions frequently brought up by sellers. If you have any questions that we have not covered, please don't hesitate to contact us.

Is it time to sell? Selling your business is a major decision! You have devoted your time, money, and energy into building, running, and operating your business. It may well represent your life's work. If you have already decided that now is the right time to sell, you want the very best professional guidance you can get.

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