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Related South Africa Law Questions
I work for a small consulting business, owned by a husband
I work for a small consulting business, owned by a husband and wife in a CC. I have 2 other colleagues. I have worked for the business since its inception on 5 January 2009, i.e. 11 years, one colleague for nearly 10 years and the third colleague for 3.5 years. The owner who works in the business, the husband, decided to reduce his working time and retire when he turns 70 next February 2020. They offered to sell us a percentage of the CC, in equal portions, last December, but for various reasons the process has taken until now and is still not resolved. In July they suggested we 'buy' the business as a going concern, but again, for various reasons, we responded by saying that we would like to buy the trading name only, since the value lies in the name and the billing of fees by my two colleagues, who bill 80% of the fees, for the last 2 years. My question is, if the owners decide to 'close' the business, as an operating consultancy, do you have to retrench us and pay retrenchment packages? Or, if we do buy the name etc., will we need to resign as employees before the close down, end of February, and then be entitled to any leave or leave pay? … read more
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Our CC company Owns a property in Namibia, the company share
Our CC company Owns a property in Namibia, the company share holders are Canadian/ Namibian citizen.There is a potential client from Zambia who wants to buy this property and his funds are in US dolla… read more
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An investor signed an agreement to invest R1000 000 in a new
An investor signed an agreement to invest R1000 000 in a new product that I am patenting and manufacturing in return for 40% ownership. He asked if he could pay it as I needed it in amounts of R250 00… read more
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My wife always arguse that the cc does not divorce, it is the
My wife always arguse that the cc does not divorce, it is the people that divorce. In the case of divorce, when do we dissolve the cc? is it during the settlement arguments or what. She also argues th… read more
inciteadvisor
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Hi, i made an offer to purchase 3 properties close to my business
Hi, i made an offer to purchase 3 properties close to my business property! The so called owner arranged to meet with me at maxprop to hear my offer! Total for all 3 properties was R2.4M ! 2 of them a… read more
Barend B.
Barend B.
Master's Degree
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My husband and I hold 80% share in a cc. We have 2 other members
My husband and I hold 80% share in a cc. We have 2 other members who hold 10% each. Are we able to sell our shares without notifying the the members who hold 10% each.… read more
WCLawyer
WCLawyer
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Bachelor's Degree
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Good day,I need advice from a lawyer that has a sound knowledge
Good day, I need advice from a lawyer that has a sound knowledge of criminal, civil and business law. Please state any case law that has reference. I was in a Close Corporation with my ex business par… read more
WCLawyer
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Is a Member of a CC automatically classified as an employee
Is a Member of a CC automatically classified as an employee? Could a member be inactive in the operation of the business and therefore only entitled to a distribution of profit/revenue in the business… read more
WCLawyer
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Bachelor's Degree
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an aquaintance has been scammed out of a valuable property
an aquaintance has been scammed out of a valuable property worth in excess of 15 million. The scammers have registered a bond over the property for some 6 million of which some 3 million has been used… read more
WCLawyer
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Hi Your expert advice is much needed!!!! Background Fam
Hi Your expert advice is much needed!!!! Background: Fam business cc 2 brothers business started 1998 Erf and small office bought for +- 130000 by brother Recently valued at 4,500,000 In name of broth… read more
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Master's Degree
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Good Day, I dont know if this is a labour issue or a legal
Good Day, I don't know if this is a labour issue or a legal issue, I belong to a cc as a member, I was working there aswell running the business, but was dissmissed before the company was registered, … read more
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In December 2009 my partner decided to with hold all staff
In December 2009 my partner decided to with hold all staff salaries and transfered the monies in the company account in to his other business account. We were partners in a security company which was … read more
WCLawyer
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I am a member in a cc one of 3 members. I want out now for
I am a member in a cc one of 3 members. I want out now for the past year but not sure what the legal implication would be. We all have equal share. The two other members did the cash injection and hav… read more
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A former partner of mine expanded her business, and did her
A former partner of mine expanded her business, and did her shopfitting thru a hardware shop on account, but did not sighn any account application form. The total expence was R8600. The hardware shop … read more
WCLawyer
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i am in CC with 2 other people 20 29 51 shareholding. I
i am in CC with 2 other people : 20 :29 : 51 shareholding. I am the 51% Honesty is these people joined me through their father/ uncle, and they have no experience in the business. 20% shareholder was … read more
CaseLaw
CaseLaw
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Master's Degree
2,297 satisfied customers
Hi My friend has a hardware store and he is not doing well
Hi My friend has a hardware store and he is not doing well and he wants to get out. I want to take it over and carry on where he stopped. Can i just open a new cc for the company an carry on trading w… read more
CaseLaw
CaseLaw
Attorney
Master's Degree
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I am a Member of a CC, but am no longer actively involved in
I am a Member of a CC, but am no longer actively involved in the day to day operations and am employed elsewhere. Can my partner unilaterally decide to have me removed as a member of the CC?… read more
JP
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what are the implications for a person working at a CC for
what are the implications for a person working at a CC for twenty years and wants to buy members interest in the cc from the other members and hey want to sell??? what is procedure also??… read more
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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