n Without Prejudice - Same same, but different : company law
|Article Title||Same same, but different : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Nov 2015|
|Pages||53 - 54|
The doctrine of the undisclosed principal is an age old doctrine that has troubled many legal minds over the years. It has been described as odd, anomalous, unsound and inconsistent with legal principles not only in South Africa but also in England. Despite the constant battle associated with the implementation of this doctrine, our courts have confirmed that its existence is, in fact, justified on the grounds of commercial convenience (In SA Metal & Machinery Company (Pty) Ltd v Klerck 2005 1 All SA). Whilst it is trite law that the doctrine is justified in certain instances, what does not appear to have been explored in any detail is how this doctrine fits in with s56 (Beneficial Interest in Securities) of the Companies Act, (71 of 2008).
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