Meyer v Catwalk Investments 354 (Pty) Ltd en Andere

JurisdictionSouth Africa
JudgeClaassen R
Judgment Date29 April 2004
CounselJ J Goodey SC namens die eiser. J L Kaplan namens die verweerders.
Docket Number26160/00
CourtTransvaal Provincial Division
Citation2004 (6) SA 107 (T)

Claassen R: B

Die verhoor was ter rolle geplaas vir twee weke vanaf 19 April tot 30 April hierdie jaar. Die partye het egter onderling ooreengekom om in terme van Reël 33(4) sekere geskilpunte te skei van die res. Die gevolg was, dat vir die huidige, daar slegs argument C aangehoor is op die aspekte wat nou beredeneer was. Alle ander geskille staan oor vir latere verhoor.

By ooreenkoms en ten einde die geskille te formuleer het die verhoor eers op 21 April begin. Toe is sekere aspekte beredeneer en andere het oorgestaan tot Vrydag, 23 April. Ek gaan nie die logistieke aspekte van die saak behandel nie. Niks draai daarom nie, behalwe ten D opsigte van koste. Ek sal bloot met die geskille handel soos deur hulle beredeneer is.

Eiser is 'n Trust verteenwoordig deur sy 21 trustees. In terme van 'n skriftelike kontrak het eiser twee vaste eiendomme aan eerste verweerder verkoop waarvoor tweede verweerder borg gestaan het. Tesame met die verkoop van die grond, het eiser ook die aandele en leningsrekening in derde verweerder aan eerste verweerder verkoop. Die twee kontrakte loop saam en moet saam geïnterpreteer word. E

Dit is gemeensaak die koopprys vir die aandele is ten volle betaal, naamlik R50 000. Slegs die eerste paaiemente ten opsigte van die vaste eiendom is betaal. Eiser se eis is slegs vir die balans van die koopprys tesame met die rente, soos in die kontrak beding. By die aanhoor van hierdie saak was eiser se volle eis erken met betrekking F tot die kapitaal en rente tot op die bedrag van die kapitaal. Die rente op die kapitale bedrag was een van die geskilpunte wat beredeneer is, omdat verweerders beweer dat die in duplum reël van toepassing is.

Wat in geskil was, was 18 teeneise wat tweede en derde verweerders G ingestel het voortspruitend uit die verkoop van die aandele in die derde verweerder. Laasgenoemde skulde is egter uitermate vereenvoudig deur middel van ooreenkomste tussen die partye waarna ek reeds verwys het. Dit het daartoe aanleiding gegee dat

(1)

teeneise 8, 11, 13 en 14 weggeval het;

(2)

teeneise 9 tydens die argument deur eiser toegegee is behalwe ten opsigte van quantum; H

(3)

eis 12, 15 en 17 staan oor vir latere beregting.

Die quantum van die meeste van die teeneise is ooreengekom onderhewig aan eiser se pleit ten opsigte van beperking van skade. Weens bogenoemde ooreenkomste is daar in terme van reël 33(4) I dan ooreengekom op 'n skeiding van geskilpunte sodat slegs argument op sekere punte aangehoor is. Daar is toe dan ook 'n bevel in daardie verband gemaak.

Die geskilpunte ten opsigte van die teeneise wat nou bereg word, kan in vier groepe verdeel word waarvan die geskilpunte onderling ooreenkom. J

Claassen R

Dit is aldus geargumenteer, en ek sal ook die uitspraak op A daardie basis formuleer. Al die eise spruit voort uit waarborge wat in terme van die bepaalde koopkontrak van die aandele gegee is en wat verweerders beweer nie gestand gedoen is nie. Eiser se betoog was dat gemelde waarborge geneutraliseer is deur of die voetstoots klousule, en/of sekere uitsluitingsklousules. Op die ou end is hierdie deel van B die saak uitsluitlik gevoer by wyse van argument op die basis dat die geskille op hierdie aspekte beslis moet word suiwer op 'n interpretasie van die kontrak oftewel dan die twee kontrakte saamgelees. In daardie aspek was die partye dit eens.

Vanweë sekere verdere feitlike instruksies wat vanaf eiser bekom is, is teeneis 9, soos reeds vermeld, deur of namens eiser toegegee C tydens die argument behalwe die kwessie van quantum wat oorstaan.

Alvorens met die teeneise spesifiek gehandel word, is dit dienstig om eers na spesifieke bepalings van die kontrak te kyk wat geïnterpreteer staan te word. Ek verwys na die volgende klousules van die verkoop van die aandele wat soos volg lui: D

Dit begin by para 2:

'Sale.

2.1

The seller hereby sells to the purchaser who hereby purchases the seller's entire share holding in the company.

2.2

The seller hereby sells to the purchaser who hereby purchases E the seller's claims and loan account, if any, against the company for the full value thereof, as certified by the auditors and which shall be included in the purchase price of R50 000.

2.3

The seller shall collect all outstanding debtors for its own account and such debtors as may exist on the effective date, shall not form part of the sale.

. . .

4. Effective management control. F

4.1

Irrespective of the effective date the purchaser shall, together with a representative of the seller manage and control the business of the company from date of signature of this agreement or such earlier date as the parties may agree upon until the effective date.

4.2

The purchaser and the seller shall conduct the business of the G company jointly from the date and for the period aforementioned and all profit and loss incurred from such date shall accrue to the company.

4.3

No profit or loss which is incurred during the period mentioned in clause 4.1 hereof shall have any influence on the purchase price.

4.4

The purchaser and the seller continue to manage and control the H business of the company according to acceptable business practices and shall record all financial transactions according to acceptable accounting principles.

4.5

The purchasers shall obtain the consent of the seller in respect of all transactions which are not conducted in a normal course of business or in furtherance of the business of the company.

4.6

The seller shall make a suitable person available to manage and I control the affairs of the company together with a representative or representatives of the purchaser and the parties agree to co-operate mutually in all management and control of the business of the company.

. . .

6. Warranties re assets.

6.1

The seller hereby warrants, in favour of the purchaser, that on the effective date, the company shall have the following assets, namely J

Claassen R

6.1.1

The right to conduct a business of a conference centre, A resort and lodge under the name of Ananda Country Lodge and Caravan Park on

(en dan word die twee eiendomme gelys).

6.1.2

Furniture and fittings as per annexure A;

6.1.3

office equipment as per annexure B; B

6.1.4

machinery as per annexure C;

6.1.5

radio equipment as per annexure D;

6.1.6

computer equipment as per annexure E;

6.1.7

software as per annexure F;

6.1.8

vehicles as per annexure G.

7. Warranties and liabilities. C

7.1

The seller hereby warrants in favour of the purchaser that:

7.1.1

Save and except issued shares, the company shall at the effective date have no liabilities except for current trade creditors, which the seller shall liquidate within seven days after it has become payable.

7.1.2

Save and except the liabilities specifically referred to in this agreement, the company shall have no other liabilities (including D contingent liabilities) as at the effective date and should such liabilities become known, or arise, the seller warrants that he shall immediately pay the same and the seller hereby indemnifies, and holds harmless the purchaser and the company in respect of all such liabilities or any loss for damages which may arise therefrom. E

8. General warranties.

8.1

The seller hereby warrants in favour of the purchaser that on the effective date:

. . .

8.1.5

The books of the company will have been kept properly and will reflect all the financial affairs and transactions of the company, F until the effective date, and that the company shall be properly managed until the effective date.

8.1.6

The company shall not be party to any legal or arbitration proceedings and that no arbitration or legal proceedings or labour disputes, will be pending against the company and that there will be no circumstances from which a possible claim against the company may arise. G

8.1.7

The company shall not be a party to any agreement of any nature which has not been disclosed elsewhere in this agreement, except for

8.1.7.1

contracts of employment with employees;

8.1.7.2

lease agreements in respect of caravan sites;

8.1.7.3

lease agreements in respect of electric/electronic equipment. H

Dan

'12. General.

12.1

Voetstoots.

The sale is voetstoots and the purchaser I declares that no representations or warranties, whether expressed or tacit have been made by the seller or by any other person on behalf of the seller which influenced the purchaser to enter into this transaction, save and except such warranties and undertakings as are specifically mentioned in this agreement.

12.2

Entire agreement. J

Claassen R

12.2.1

This agreement contains the entire agreement between the A parties and no agreement in conflict with the provisions thereof shall bind the parties unless it is adduced to writing and signed by the parties.

12.2.2

Each party acknowledges that he has acquainted himself fully with the relevant facts which may influence the terms of this agreement.'

Die kern van die saak wentel om klousules 8.1.5, 8.1.6, en B 8.1.7 gelees met klousules 4, 6, 7 en 12.1. Hieruit sal bemerk word dat die verkoper die eiser enersyds sekere uitdruklike waarborge gee en andersyds sekere uitsluitings beding. Die geskil, in wese, gaan daaroor of die uitsluitings en/of die voetstoots klousule die eiser beskerm C teen die eise nou deur verweerders ingestel.

Ek behandel vervolgens die verskillende eise, en soos gesê kan hulle in vier groepe saamgegooi word, soos volg 1 tot 5, 6 en 7, 10 en 18 en laastens 16. (Alhoewel teeneis 10...

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7 practice notes
  • Nedbank Ltd and Others v National Credit Regulator and Another
    • South Africa
    • Invalid date
    ...Another v Margo and Another 2010 (6) SA 385 (SCA) ([2010] ZASCA 110): referred to Meyer v Catwalk Investments 354 (Pty) Ltd en Andere 2004 (6) SA 107 (T): B referred Mills v Starwell Finance (Pty) Ltd 1981 (3) SA 84 (N): dictum at 87B – D applied Minister of the Interior and Another v Harri......
  • The in duplum Rule: Relief for Consumers of Excessively Priced Small Credit Legitimised by the National Credit Act
    • South Africa
    • Juta South Africa Mercantile Law Journal No. , May 2019
    • 25 May 2019
    ...(W); Commissioner, South AfricanRevenue Service v Woulidge 2002 (1) SA 68 (SCA); Meyer v Catwalk Investments 354 (Pty) Ltd enAndere 2004 (6) SA 107 (T); Verulam Medicentre (Pty) Ltd v Ethekweni Municipality 2005 (2) SA451(D).19LTA Construction Bpk v Administrateur, Transvaal supra note 17 a......
  • DA Cruz v Bernardo
    • South Africa
    • Invalid date
    ...supra; Bellingan v Clive Ferreira & Associates CC and Others 1998 (4) SA 382 (W); Meyer v Catwalk Investments 354 (Pty) Ltd en Andere 2004 (6) SA 107 (T): "The prohibition on interest in duplum rule is not limited to money-lending transactions but applies to all contracts arising from a cap......
  • MEC, Department of Welfare, Eastern Cape v Kate
    • South Africa
    • Invalid date
    ...Magidimisi NO v The Premier of the Eastern Cape and Others, SECLD case No 2180/04 Meyer v Catwalk Investments 354 (Pty) Ltd en Andere 2004 (6) SA 107 (T) at 116 - Minister of Health and Others v Treatment Action Campaign and Others (No 2) 2002 (5) SA 721 (CC) at para H [106] Plascon-Evans P......
  • Get Started for Free
6 cases
  • Nedbank Ltd and Others v National Credit Regulator and Another
    • South Africa
    • Invalid date
    ...Another v Margo and Another 2010 (6) SA 385 (SCA) ([2010] ZASCA 110): referred to Meyer v Catwalk Investments 354 (Pty) Ltd en Andere 2004 (6) SA 107 (T): B referred Mills v Starwell Finance (Pty) Ltd 1981 (3) SA 84 (N): dictum at 87B – D applied Minister of the Interior and Another v Harri......
  • DA Cruz v Bernardo
    • South Africa
    • Invalid date
    ...supra; Bellingan v Clive Ferreira & Associates CC and Others 1998 (4) SA 382 (W); Meyer v Catwalk Investments 354 (Pty) Ltd en Andere 2004 (6) SA 107 (T): "The prohibition on interest in duplum rule is not limited to money-lending transactions but applies to all contracts arising from a cap......
  • MEC, Department of Welfare, Eastern Cape v Kate
    • South Africa
    • Invalid date
    ...Magidimisi NO v The Premier of the Eastern Cape and Others, SECLD case No 2180/04 Meyer v Catwalk Investments 354 (Pty) Ltd en Andere 2004 (6) SA 107 (T) at 116 - Minister of Health and Others v Treatment Action Campaign and Others (No 2) 2002 (5) SA 721 (CC) at para H [106] Plascon-Evans P......
  • Nedbank Ltd and Others v National Credit Regulator and Another
    • South Africa
    • Supreme Court of Appeal
    • 28 March 2011
    ...begin dit weer loop, maar net totdat dit nog eens so hoog as die kapitaal is.' See Meyer v Catwalk Investments 354 (Pty) Ltd en Andere 2004 (6) SA 107 (T) at 115H – I; and Monica L Vessio 'A limit on the limit on interest? The in duplum rule and the public policy backdrop' (2006) 39 De Jure......
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