I,m renting business property in agreement is nothing referring to cancelation of agrrement.In this moment due to economical impact we can,t afford current rent therfore we need to move to smaller property.How customer protection act can free me from this hostage sytuation?
Good day. This is an info request to assist you better. Please continue on this thread.
Is the lease for a fixed term?
Do you do business as a CC or PTY Ltd?
In terms of the law of contract, you can cancel the contract on good cause by giving a reasonable period to the other party. Two months would be reasonable notice in my view. The good cause shown will your economic hardship or unaffordability which was not foreseen at the time of concluding the agreement.
Please accept my answer.
BACHELOR OF LAWS
Lease is for fix term
We are cc
1. You cannot cancel a fixed term agreement before the end of the term. If you do, they can still hold you liable for the full term of the fixed term agreement, unless they allow other tenants into the property, since then they cannot comply with the contract themselves anymore.
2. The Consumer Protection Act does make provision for an early termination, however, not if you are a legal entity. Section 14(1) (the section dealing with early termination) specifically state that the section does not apply to legal entities.
3. In this instance, South African law state that you may only cancel the agreement before the fixed term terminates by agreement or if there is a breach. In my opinion, your best option would be to find alternative tenants and get them to take over the lease agreement. The landlord may, in those circumstances, allow the contract to be canceled.
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