n Without Prejudice - Who does a "binding offer" bind? : company law
|Article Title||Who does a "binding offer" bind? : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Aug 2014|
|Pages||12 - 13|
Since 2013 the myriad inconsistent and contradictory clauses found within the Companies Act (71 of 2008) have been commented on by the judiciary. None more so than s153(1)(b)(ii) of the Act, which seems to introduce the concept of a 'binding offer', sending the accepted principles of the law of 'offer and acceptance' into a tailspin.
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