Sharia Compliant Financing Arrangements

In Albaraka Bank Ltd v Halaal Royal Snacks (Pty) Ltd, the court emphasized that, “there is nothing intrinsically wrong, unlawful or contrary to public policy in banking transactions being entered into according to the Sharia law[/Islamic Law].”[1] The court went on to point out that, “banking transactions according to Sharia law is a rapidly growing…

Deadlock-Breaking Mechanisms

Deadlock-Breaking Mechanisms

The Lifelines for Agreements to Agree and Agreements to Negotiate in Good Faith   In order for a contract to be valid, it needs to fulfill certain requirements. Firstly, the parties entering into the contract need to have the capacity to do so. Secondly, there needs to be a meeting of the minds on the…

Poor Work Performance vs Misconduct

A dismissal is unfair if it is not effected for a fair reason (substantive fairness) and in accordance with a fair procedure (procedural fairness).[1] There are three grounds on which a termination of an employee might be legitimate, namely conduct, capacity and operational requirements.[2] The Code of Good Practice provides for guidelines relating to dismissals…