Appraising the Scope and Application of the Market-Price Rule in Upheld Contracts

2020 ◽  
Vol 32 (2) ◽  
pp. 253-276
Author(s):  
Paul Nkoane
Keyword(s):  
South African ◽  
Market Price ◽  
Comprehensive Analysis ◽  
Breach Of Contract ◽  
Latent Defects ◽  
Methods And Techniques ◽  
Price Rule

The use of the market price for determining liability in contract lacks dedicated attention in South African law. Even far scanter is the holistic literature on the use of the market-price rule in contracts that are not terminated on breach of contract. Although, there has been suggestions that the market-price rule can be used to determine damages in upheld contracts, this was never technically demonstrated. Thus, the argument that the market-price rule can be used in contracts that are not terminated remains moot. This article presents various methods that illustrate how the market-price rule should apply in upheld contracts. The article undertakes a comprehensive analysis of the market-price rule to determine its efficacy in contracts that are not terminated, with the focus on the determination of the degree of liability. Regarding the determination of liability, the article to some extent discusses contracts with latent defects and those with items of questionable quality. Various methods and techniques are discussed to enlighten about how the market price can affect the determination of liability in upheld contracts, and to illustrate that this principle is suitable for determining damages in contracts that are not terminated.

In vitro determination of the skin anti-aging potential of eleven South African plants

Planta Medica ◽  
2013 ◽  
Vol 79 (13) ◽  
Author(s):  
GN Ndlovu ◽  
G Fouche ◽  
W Cordier ◽  
V Steenkamp ◽  
M Tselanyane
Keyword(s):  
South African ◽  
South African Plants ◽  
African Plants

A Comprehensive Analysis of Minority Interest Discounts in Estate and Gift Taxation

2006 ◽  
Vol 4 (1) ◽  
pp. 117-134
Author(s):  
Gregg S. Woodruff ◽  
Craig J. Langstraat ◽  
John M. Malloy
Keyword(s):  
Comprehensive Analysis ◽  
Internal Revenue Service ◽  
Tax Base ◽  
Internal Revenue ◽  
Legal Duty ◽  
History Of ◽  
Minority Interests ◽  
Gift Tax ◽  
Minority Interest Discount

One of the most litigated and adjusted areas in taxation has been the determination of the minority interest discount in estate and gift taxation. Valuation disputes arise because the valuation processes for estate and gift taxation are “inherently imprecise,” and the goals of the taxpayer and Internal Revenue Service (IRS) are diametrically opposed. The IRS's vigorous defense of the estate and gift tax base and the taxpayersa' attempts to pay no more tax than is their legal duty have resulted in a history of situations where the taxpayer and the IRS turn to the courts for adjudication. This paper addresses the basis for a minority interest discount, the determination whether ownership interests are in fact minority interests, and the importance of facts and law in the determination of the minority interest discount. A comprehensive analysis of estate and gift tax cases that determined minority interest discounts is used as a basis for planning ideas to maximize these discounts.

scholarly journals Small, medium and micro-enterprises’ distress and factual evaluation of rescue feasibility

2019 ◽  
Vol 11 (1) ◽  
Author(s):  
Andria C. Du Toit ◽  
Marius Pretorius ◽  
Wesley Rosslyn-Smith
Keyword(s):  
South African ◽  
Financial Distress ◽  
Financial Models ◽  
Case Law ◽  
Research Report ◽  
Direct Contrast ◽  
The Subject ◽  
Reasonable Prospect ◽  
Micro Enterprises

Background: Entrepreneurs often face distress in their businesses; as one way to address it, they can file for business rescue. The Companies Act 71 of 2008 requires the appointed business rescue practitioner (BRP) to place before the court facts proving ‘reasonable prospect’. This often seems determined mainly by the subjective opinion of practitioners, who rely on their experience and knowledge in rescue and business management. This appears to be in direct contrast to the requirements for factual evidence set out by several court judgements. There are many questions surrounding the determination of reasonable prospect, as there seems to be no benchmark for entrepreneurs and BRPs to work towards or a prescribed process to be followed.Aim: This article investigates different methods of factually determining reasonable prospect and guiding the decision-making process during the pre-filing and initial stages of the rescue of small, medium and micro-enterprises (SMMEs).Setting: The study was conducted using South African case law and financial models relevant to SMMEs in South Africa.Methods: Qualitative analysis of existing financial models and case law to better understand how BRPs determine initial reasonable prospect when working with SMMEs.Results: The research report methods of determining financial distress and decline within the relevant case law.Conclusion: Reasonable prospect relies heavily on experience and opinion. Factually proving reasonable prospect remains problematic because of information asymmetry and the lack of data integrity. Affected parties (including entrepreneurs) could benefit from the insights obtained in this study. Identifying methods that could assist with the factual determination of reasonable prospect could contribute to entrepreneurial education, as well as address the current conflict that surrounds the subject.

scholarly journals Die metodiek en aanwendingsmoontlikhede van 'n markprysbepalingsmetode by onduursame verbruikersgoedere

1982 ◽  
Vol 13 (1) ◽  
pp. 28-37
Author(s):  
Chris P. Lerm
Keyword(s):  
Empirical Data ◽  
Return On Investment ◽  
Empirical Investigation ◽  
Market Price ◽  
Consumer Products ◽  
Need Satisfaction ◽  
New Method ◽  
Rate Of Return ◽  
Target Price

The methodology and applicability of a method to determine the market price of non-durable consumer products Proper pricing should be done in three phases. Firstly, the determination of the market price, namely that price which the consumers are prepared to pay for the amount of need-satisfaction they perceive from using the product. Secondly, the determination of the target price, namely that price which will give a satisfactory rate of return on investment for the firm. Thirdly, the determination of the final price, by achieving a match between the market price and the target price. The present methods to determine the market price were analysed and with this information a new method to determine the market price of non-durable consumer products was developed. The objectives of this article are to report on an empirical investigation undertaken to test the feasibility of this method and the seven steps to follow in using the method; and to outline the results obtained and conclusions which may be reached; the implications and use of the empirical data; and the method to determine the market price.

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