Memorandum of Understanding: Binding and enforceable or not?
There is a common misconception that MOUs are always non-binding. MOUs can in fact be binding, non-binding or partly binding and partly non-binding, it all depends on the intention of the parties and the exact wording of the MOU. But uncertainty is rarely a good thing in the context of legal documentation and a poorly […]
Lenders beware! – Gather your debts while you may
Here is a tricky matter – and for the creditor a harsh lesson. The case of Trinity Asset Management Ltd (“Trinity“) / Grindstone Investments 132 (Pty) Ltd[1] (“Grindstone“) is a warning for lenders and attorneys alike. At stake was R3 050 000.00 (excluding interest) which Trinity had loaned to Grindstone in terms of an agreement concluded on […]