Dinosaurs live!

My Mom (left) turns 80 today and she is still working part-time at Mc Naught and Co. Incredible.

 

Mom joined Mc Naught and Co as our conveyancing para-legal after a high-powered career with SA Breweries in Johannesburg and when she moved to Durban, Clements and Johnson Attorneys.

Mom worked tirelessly for me at the Bluff office until she retired in her 60s and re-located to my brother's smallholding in Johannesburg. She lived there for over 5 years until he sold up and emigrated to New Zealand. Mom and Gordon then returned to Durban to be closer to her family and friends and re-joined Mc Naught and Co in a part-time capacity, but coming to work 3 mornings a week, which she has been doing through her 70s, now reaching the milestone age of 80!
 

Mom aka Molly and Val (right) who heads up our bonds department at the Bluff office are living proof that dinosaurs did exist many moons ago. Well done to the 2 old ducks for keeping the office incredibly efficient for so many years - our oldest and loyal employees!! 

 Thanks Mom for your incredible hard work and commitment to my business over all of these years. Have an awesome birthday today and party with your family and friends on Sunday.

Expanding our Collection

We have a pub in each of our offices which we use on occasion for entertaining etc. Occasionally, clients bring us momento's to add to our collection of beers from around the world.

 

 

Thanks to Mrs Bland from Quality Safety for bringing us the latest addition to our collection!

New Zealand beer, courtesy of Mrs Bland - Quality Safety 1990 (Pty) Ltd

October Newsletter published

Click on our October newsletter below to enlarge and read.

 

 

Right of First Refusal

OPTION TO PURCHASE OR RIGHT OF FIRST REFUSAL?

 

 

For an Option to Purchase to be valid, the document needs to contain all of the terms and conditions for the possible sale so that if a buyer were to exercise the option, everything that has to be agreed is already in the document. The option should also set out a time period, if any, for which it will be valid and a procedure to the purchaser to exercise the option.

 

 

The difference between this and a right of first refusal is that if the buyer wanted to exercise his right to purchase, the terms and conditions and sale price would still have to be agreed, and if there is no agreement, there is no sale. An option is much stronger because it commits the seller to selling, whereas the right of refusal merely puts the buyer in the front row for negotiations to purchase.

 

 

The wording for a Right of First Refusal would be something like this:

 

 

The Seller and Owner of Erf 25 Pennington hereby grants to Joe Soap (the "grantee") the right of first refusal in the event of a proposed sale of the property.

 

 

To enable the grantee to exercise such right, the owner shall make the property available to the grantee to purchase on stipulated terms and conditions.

 

 

The grantee shall exercise the right on or within 3 days of being presented with an offer, and failing acceptance of the sale offer, the property may be sold to another purchaser, but not at a price or on terms more favourable than first offered, unless again first offered to the grantee on such more favourable terms.