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ECONOMY

Prof Rossouw, Wits, says that the fiscal cliff that South Africa is expected to experience in 2026 may be expected sooner rather than then. Essentially, the disaster is predicted only if one assumes that State income and expenditure will grow at fixed rates annually. Yawn.

BUSINESS

PROPERTY

Rawsons opine that holiday homes have the potential of seeing big price increases within the next 24 months. They base this on an increase from 1% of the total spend on homes (at our low point 5 years ago) to the current 3%. Of course, they said so a year ago also

PRACTICE

Pietermaritzburg recently had a land invasion on municipal ground. The municipality sought an interdict. The invaders applied for legal aid and was turned down on the grounds by the Legal Aid Board that their case

CASES

Bridging finance: proceeds of

Conveyancers are very often required to sign documentation evidencing the expected return on a sale for the purpose of the seller wanting to borrow money prior to the transfer being registered. In this case, the schedule formulated by the attorney did not show a second bond that was also registered against the property. As a result, the financier received considerably less than expected and was short. The term "proceeds" was interpreted as the sum remaining after the payment for the release of all bonds and other expenses had been paid. Be careful. I did not have time for this but one wonders why the lender didn

QUOTABLES

WEIRD & WONDERFUL

LIGHTEN UP

When accountants go insane, do they start to hear invoices?

Q: What is the Guillotine? A: A French chopping centre.


Q: How do you sink a French battleship? A: Put it in water.


Q: What is the most useful thing in the French Army? A: A rearview mirror, so they can see the war.


Q: How do you get a French waiter's attention?
A: Start ordering in German.