Commercial Laws

SA Law firm Creates First Cross-Border Finance Practice for Tech …

May 17th, 2012

Dommisse Attorneys has responded to a crying need from SA’s tech entrepreneurs that need help with international financing, as well as from solutions companies wanting to expand commercial activities across our borders into the rest of Africa. This small, focused team of attorneys have specific skills in corporate finance, tech-industry contracting and international commercial law, allowing them to guide businesses through the sometimes perilous waters of cross-border business engagements.

“At first blush these two business needs seem antithetical – the startup entrepreneur looking for funding and the established company wanting to expand. But they share all-important requirements – they will need to establish financial relationships with parties across several legal jurisdictions, in a way takes into account the needs of the tech industry,” explains Adrian Dommisse, founder and CEO of Dommisse Attorneys.

“A recent trend has also been for international tech companies to look to acquisitions inSouth Africaas their markets saturate. Without the having a good lawyer in your corner, the possibility to be abused by investors is very real.”

Technology entrepreneurs in South Africa are hungry for funding – and often look to the US and Europe for investors. They are sometimes desperate (cash is tight, payroll needs to be processed), are not from a finance background, and are certainly not expert in the legal systems of the countries their potential investors are located in.

Established tech companies looking to spread northward into new African markets may similarly have little experience in contract law, especially when it’s cross-border, along with a lack of understanding of currency issues.

“We are from a corporate finance background, with expertise that can help guide clients when they need it most – when they think they don’t have options,” says Dommisse. “I have seen it over and over again where an entrepreneur ends up taking a terrible deal, simply because they didn’t understand the implications of the agreement they signed in blood. We advise clients on how to ensure they get the best possible deal – but also guide them through the process, co-ordinating and managing it, from the initial agreement to actually having the funds transferred to them.”

He describes the situation with a recent client, Mobile Transactions International, a mobile payments system based in Zambia that recently secured over R20-million in funding from a consortium of US-based venture capital companies. Mike Quinn, the CEO of MTI was having a harrowing enough time convincing investors to put their money into his company as cash-flow dried up – and now on top of this he had to be sure he was not getting into a bad deal.

“We relied on the heroic efforts of Adrian Dommisse, our sole company lawyer who joined on a retainer basis in January 2011 in one of our best decisions of the year,” said Quinn, in his fascinating recounting of the funding saga (Mikes Mobile Transactions Story.pdf)

Explains Dommisse: “Entrepreneurs are often very, very emotionally invested in their business – they have to be to survive the stress and long hours. This means they’re often in a terrible place to be making important financial decisions. This is where a cool head with experience in these matters is invaluable. We understand small and medium enterprises, and what they need. They will certainly feel reluctant to spend their precious cash reserves on lawyers – but this is the one thing that could save their businesses later.”

Contact:

Adrian Dommisse
Dommisse Attorneys
Email: adrian@dommisseattorneys.co.za
Mobile: 071 6744316

Popularity: unranked [?]

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Business&Law » Practicioner's Perspective: A Critical Look at …

May 17th, 2012

[1] Ph.D. Candidate at theCollege ofLaw,Kozmiński University,Poland. LL.M., Faculty of Law and Administration at theWarsawUniversity (2005). LL.M. and Thomas Buergenthal Scholar at theGeorgeWashingtonUniversityLawSchool (2007). Currently (2011-2012), Visiting Scholar at the University of California,Berkeley,BoaltHallSchool of Law.


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Business Law: Principles for Today's Commercial Environment, 3rd …

May 14th, 2012
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Callenders Law Partner Receives International Nomination …

May 14th, 2012

Callenders & Co. partner Chad D. Roberts, CLE, JD, BS (Photo by Roland Rose for DP&A.)

Callenders & Co. law firm partner Chad David Roberts CLE, JD, BS has been nominated by CorpINTL as the first real estate law expert in The Bahamas. Callenders & Co. was also nominated as the ‘recommended firm’ for real estate law in The Bahamas.

“The CorpINTL accreditation process is by invitation only,” according to the nomination document sent to Roberts advising him he had been nominated by the international research arm of the organisation and approved by a panel of judges for web-based referral listing. No fees are involved for the nomination and the background research leading to nomination is done without a firm’s knowledge. Roberts said he was completely surprised, but pleased, by the honour.

“Our real estate law profiles are amongst the most prestigious and important positions on the CorpINTL website because of their relevance to so many potential clients,” the letter of nomination said. “We are urgently looking to appoint this position for the Bahamas and our research team has short-listed several leading practitioners to ensure these positions are allocated promptly.”

It was the second time during the past year that Roberts was recognised by an international association.

Last August, he was selected by the Global Law Experts (GLE) as the recommended corporate law attorney in The Bahamas. That appointment by the premier guide for attorneys positioned Roberts as the only GLE-accredited lawyer representing the specific area of practice in the jurisdiction for the next 12 months.

“The nominations of one of our partners, Chad Roberts, by two distinguished associations whose reputations ride on providing credible, non-paid-for referrals to international audiences is a great honour for this firm,” said senior partner Colin E. Callender, Q.C. “We are extremely proud of Chad and offer our sincere congratulations to him.”

Roberts, who joined Callenders & Co. in 1999, graduated Magna Cum Laude from Taylor University in Indiana, USA where he received his BS in Accounting Systems in 1996. He  continued studies at Stetson University College of Law, St. Petersburg, Florida (J.D.) December, 1998 and later earned a Certificate in Legal Education from the Eugene Dupuch Law School in Nassau. He was called to the Florida Bar in 1999, The Bahamas Bar the following year and holds memberships with The Bahamas Bar Association, The Florida Bar Association and The American Bar Association. His areas of expertise include Real Property, Commercial Law, Corporate Law, Civil Litigation, Immigration Law and Telecommunications Law.

Callenders & Co. is the country’s oldest law firm with an office in downtown Nassau, and others in Lyford Cay and Grand Bahama.

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Synch Deal – Music Business/Law Tips

May 11th, 2012

Helpful music business and/or music law tips

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International Commercial Law – Problem solving custom essay | A …

May 11th, 2012

International Commercial Law – Problem solving custom essay

Aussie Super Cruises Ltd (ASC) with its place of business in Perth, Australia is an operator of 10 luxury cruise ships. The company?s Board of Directors decided to replace engines on 5 of their cruise ships in order to improve the overall performance of its fleet. On 5 May 2012, ASC sent the order form to Best Maritime Builders Ltd (BMB) located in Tokyo, Japan.

The order form specified that ASC wanted to buy five (5) engines and specified the engine type and model number. The order form did not state the price, but instead referred to the ?price listed on the website?. The order form also stated ?FOB Perth, Incoterms 2010?.

On 18 May 2012, BMB replied by fax ?We accept your order of 5 May 2012 and advise that the total contract price is US$2,050,000; the price of each engine being US$290,000 and the rest for the costs of installation and maintenance services for a period of 12 months from the date of installation?. ASC replied by fax later on the same day ?We agree to your conditions and would like to go ahead with our order.?

Shortly after installation of new engines it was evident that while the engines complied with minimum international standards, their performance did not meet ASC?s expectations and only improved the performance of boats by 70% (not 90% as expected). The Board of Directors was very disappointed with the performance of the engines.

Under the rules of private international law in Japan, the proper law for international sales of goods is the law of the country where the contract is performed. The Sale of Good legislation in Western Australia (a State of Australia where Perth is located) says that the Courts of Western Australia only have jurisdiction to hear matters where the contract was concluded in Australia.

The Managing Director of ASC comes to you for advice. He specifically wants to know:

? Is there a contract? If yes, when and where was it formed?
? Will CISG apply to the above transaction? Why?
? What courses of action are available to ASC in relation to the engines, what available remedies (if any) are there, and what potential defences are available to the other party?

Advise the Managing Director of ASC on these and any other matters you think relevant.

Marking Criteria (Problem-Solving Questions)

This category of specific assessment guidelines applies to problem-type questions. Assessment of this kind will be the most commonly encountered assessment in law units. Typically it will take the form of a hypothetical fact situation, where you will be asked to advise X or Y, and to identify and explain the legal arguments and options which are available.
Part B questions will be evaluated on the following criteria/factors:

? Communication ? Correct syntax, grammar and spelling, clarity of thought and expression, conformity with prescribed word limit.

? Demonstrated knowledge of the law and familiarity with relevant literature and readings ? reflects a good knowledge of the relevant legislation and relevant case law, an understanding of their scope and operation.

? Analytical skills, discussion and argument ? identification, discussion and analysis of relevant arguments and evidence, dealing with evidence and arguments in a logical, coherent structure, reaching conclusion.

? Presentation ? correct use of citations, conformity with relevant style guide, layout out, clarity, ease of reading.

Please note that the criteria listed are not necessarily of equal weighting, nor are they all inclusive. The weighting for each criterion is a matter for the academic judgement of the lecturer in charge of the unit. However, all papers are expected to have a significant weighting for written communication skills.
Citing or referencing is the process of acknowledging the words, ideas or data of others used in the preparation of an assessment. This is important to allow the readers of your work to locate and check each source of information and importantly to avoid plagiarism.

USEFUL TIPS:
? DON?T RESTATE THE FACTS ? The facts are given in the assignment question. I know them, so it is not necessary to restate the facts.

? DON?T EXCEED PRESCRIBED WORD LIMIT ? You are generally allowed to go over by about 10%, but you will be penalised if you substantially exceed the world limit. Your world limit is 1200 words.

? AVOID THE USE OF BULLET POINTS ? Your answer should be structured in sentences and paragraphs instead of bullet points.

? READ QUESTIONS CAREFULLY ? Please read questions carefully and remember to answer all questions.

? FOLLOW THE PRESCRIBED STYLE AND REFERENCING GUIDE: Footnotes system according to the legal reference guidelines.

? RESEARCH MATERIALS/SOURCES ? It is recommended that you undertake additional research (beyond material provided in the Study Guide) to answer the exam questions.

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Commercial property owners need accurate lease agreements

May 8th, 2012

As the Consumer Protection Act (CPA) continues to change the nature of lease agreements in South Africa’s property rental market, commercial property landlords need to keep abreast of the interpretation of the act.

“The CPA is a fair legislative attempt by government to protect consumer rights,” says Michelle Dickens managing director at TPN, South Africa’s only specialist property credit bureau. “However, because the CPA is a broad piece of legislation regulating all consumer transactions there have been some unintended consequences for certain industries. The rental property industry might feel it has a strong argument for an exemption from certain sections of the CPA or for specific regulations for the property industry. However in the absence of such exemption, commercial property landlords should make certain they understand when and to what extent the CPA applies to their tenants.”

Essentially all property landlords who enter into leases with natural persons and sole proprietors face having to comply with the CPA which includes section 14 of the act. Essentially this provides a gap for tenants to cancel the lease agreement with only 20 business days’ notice. Commercial property landlords might elect to protect themselves by only selecting tenants who are juristic persons. But this discrimination itself could be a breach of the CPA. The CPA is also applicable to tenants that are juristic persons with turnovers and asset values of less than R2 million. This places an onus on landlords to identify who the tenants are as well as their turnovers or asset values. A tenant disclosure should be a mandatory document in the arsenal of all landlords’ lease packs, says Dickens.

“One of the bigger risks facing commercial property owners is the upfront tenant installation disbursement provided to new commercial tenants moving into the premises. If tenants elect to cancel their leases by relying on the CPA’s 20 business days’ early cancellation provision, a well drafted lease agreement that identifies which tenants are eligible and a clearly worded penalty clause might go a long way to recouping the landlord’s damages,” she says.

Commercial law firm Fullard Mayer Morrison Inc has partnered with TPN to create a commercial lease pack. Dickens says the aim was to produce good quality, legal documents that will withstand scrutiny and may be used by landlords and letting agents with confidence and not solely within the context of the Consumer Protection Act.

“A particularly useful feature of the suite is that the clauses in the standard commercial lease mirror those of the Consumer Protection Act version, adjusted for the requirements of the act. This makes it easier because a portfolio manager doesn’t have to get to grips with two entirely different leases.”

William Fullard, director at Fullard Mayer Morrison attorneys, says: “A solid commercial lease agreement should embrace all the aspects included in TPN’s commercial lease pack: a tenant disclosure form; a comprehensive standard commercial lease agreement; a Consumer Protection Act version of that commercial lease agreement; a tenant resolution; and a number of addendums catering for commonly negotiated variants to the standard lease terms.”

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Florida company ready to expand concept through franchising …

May 8th, 2012

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Prof. Margaret Griffiths and Dr Nicholas Ryder talk "Commercial Law"

May 5th, 2012

Professor Margaret Griffiths and Dr Nicholas Ryder talk about their new book "Commercial Law: Principles and Policy" published by Cambridge University Press. Inspection copies available now: ow.ly

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ALEP Releases Dari Translation of Commercial Law Textbook …

May 5th, 2012

ALEP is pleased to release the Dari translation of our Commercial Law textbook. You can find it on our “Publications” page.  Dari and Pashto translations of our other textbooks are also on the way, so check back frequently!

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