LAPSED OFFER AS BASIS FOR NEW SALE: THINK TWICE
Jubi Properties (Pty) Ltd v Boyce (12286/2016)  ZAGPJHC 338 (7 December 2016)
An interesting conundrum arose in this matter. The seller and buyer renegotiated an agreement after the buyer’s first offer lapsed. The later agreement was based in main on the provisions of the lapsed offer but, in an attempt to avoid complication, they backdated the agreement so that it fell within the initial offer’s acceptance period. Problems did however arise and the court was asked to determine when the due dates for compliance with conditions arose: was ten days calculated from the date in the initial offer, or from the date of the subsequent agreement?
STBB’S STSMA REFERENCE GUIDE
In this, the ninth set of notes for your STSMA Reference Guide, the details of section 10 of the Act are provided. It deals with rules of bodies corporate.
Section 10 of the Act – Body Corporate Rules
(N.B. Print in landscape)