n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - Sale of land agreements entered into by companies under the Companies Act 71 of 2008 : analysis
|Article Title||Sale of land agreements entered into by companies under the Companies Act 71 of 2008 : analysis|
|© Publisher:||Juta Law Publishing|
|Journal||SA Mercantile Law Journal = SA Tydskrif vir Handelsreg|
|Affiliations||1 Nelson Mandela Metropolitan University|
|Publication Date||Jan 2014|
|Pages||138 - 149|
In terms of section 2(1) of the Alienation of Land Act 68 of 1981, an agreement of sale of land ('deed of alienation') must be signed by the parties thereto or their agents acting on their written authority. Thus two categories of signatories are permitted - (a) the parties themselves, or (b) the parties' agents, acting on the written authority of their principals. A company, being a legal entity, cannot itself sign any agreement as such (category (a)), and cannot give its functionaries written authority to sign (category (b) - see Potchefstroom Dairies and Industries Co Ltd v Standard Fresh Milk Supply Co 1913 TPD 506; African Peach Growers (Edms) Bpk v Bouwer en 'n Ander 1973 (4) SA 654 (T)). How then does a company, acting through its functionaries, enter into an agreement of sale of land?
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