Business rescue is defined as a proceeding to facilitate the rehabilitation of a company which is financially distressed by providing for:
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It is common practise, mostly in the business world, for a contract to be entered into by an agent, acting on behalf of someone else, be it a juristic entity or a private person. This well-known principle is called the Law of Agency.
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The doctrine of constructive notice applied under the old Companies Act. In terms of this doctrine, and because the constitutional documents of a company were (and still is) in the public domain, outsiders were presumed to have knowledge of any limitations on the powers and capacity of a company and or office bearers.
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