March Newsletter: Property Sales
Property Sales: “Conditional Acceptance” of an Offer is Not Acceptance, It’s Rejection
Making a counter-offer to an offer to purchase can be an excellent negotiating tactic in trying to reach consensus so you can finalise a binding sale agreement.
But beware of the concept of “conditional acceptance”. It is actually a rejection of the offer, and you very likely have no valid sale at all unless both parties now agree on the proposed amendments and counter-sign them. We illustrate the dangers of losing sight of this principle in the context of a recent High Court decision…
Read the full March newsletter here.
Effective 1 March 2024: New National Minimum Wage
The National Minimum Wage (NMW) for each “ordinary hour worked” has been increased from 1 March 2024 by 8.5% from R25-42 to R27-58.
Domestic Workers: Assuming a work month of 21 days x 8 hours per day, R27-58 per hour equates to R220-64 per day or R4,633-44 per month. The Living Wage calculator will help you check whether or not you are actually paying your domestic worker enough to cover a household’s “minimal need” (adjust the “Assumptions” in the calculator to ensure that the figures used are up to date).
The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.
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