Can I Take My Business Partner To Small Claims Court?

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  Rosemary Magagula, SA

My partner and I parted ways and he owed me money separate from the business share that I got and refuse to pay.  I need to take legal actions.

Posted: November 06 2013

  NDBS Answer:

You can take your partner to Small Claims Court as a person but cannot take the business no matter how small the amount can be, the only situation where you can take the business is when you bought goods and goods were not delivered and/or have dispute.  And that will depend on how much you are being owed as any amount above R12 000 cannot be handled by Small Claim court.  No legal representative allowed in this court.

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  What Is The difference Between BEE and BBBEE?  Are These only in South Africa or other Countries Also?

NDBS Reader

Posted: November 05 2013

  NDBS Answer:

These are economic policies introduced in South Africa.  Other countries have policies that are named in different ways like Zimbabwe they call their policies indeginasation which is meant to bring balance in the economy where there is equal participation by its citizens.  In South Africa BEE was introduced specifically for Black Empowerment in redressing the economic ills of the past where most blacks were not participating in the economy of South Africa Equitably with other races hence Black Economic Empowerment Policy came to place.  But as South Africa moved towards proper integrated society  Broad-Based Black Economic Empowerment (B-BBEE) was introduced which accommodates companies owned by other races but has shareholding of blacks or employees share schemes,  And where these companies buy goods and services from BEE companies and are involved on skills development and enterprise development through adopting the BEE companies and develop them.  

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  At What percentage Does Value Of A Car Depreciate in South Africa?  

NDBS Reader

Posted: November 05 2013

  NDBS Answer:

The depreciation does not apply to one country only but is a universal accounting and economic standard that is applied on any item that loose value or gain value and when it gains value like a house it appreciate.  In general cars depreciate at between 15 and 20% per year.  At this rate a car will have lost 80 to 85% of its value but based on the demand of that car in the market it can be sold at a competitive price.  

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  What Is The Difference Between Stakeholders And Shareholders?  

NDBS Reader

Posted: November 03 2013

  NDBS Answer:

 A shareholder is someone holding shares or having shares in a company no matter how small the shares may be while  stakeholder is someone with interest in a company for them to benefit, be it in a form of salary or donations.  Also people who are pushing the agenda within CSI can be regarded as stakeholders.

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  What Is A Two Tier System?  

Susan Knight, SA

I read about Rob Davies saying South Africa will do away with Bilaterals with countries and use two tier system while phasing bilaterals out completely, what is two tier system in business?  

Posted: November 02 2013

  NDBS Answer:

Two Tier applies in payroll and wage systems where employees are compensated based on their work than general wage increase.  In economy it may refer to a situation two levels of structure, policies are compromised without doing away with the other.

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  How Are Points Determined on Stock Exchange?

Cornwel Mckenzie, SA

I need help, I hear the shares are now at 40 000 points or up to 45 000, how are these points determined especially on JSE.  As one who bought shares I need to know.  

Posted: October 31 2013

  NDBS Answer:

One point equals one Rand. So when you hear that a stock has lost or gained X number of "points", this is the same as saying that the stock has lost or gained X number of Rands or dollars.  one point always equals one Rand but the percentage value of one point movement can be different for two companies.  Points should not be confused with percentages. The drop in points depends on the high and low of the share price.  

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  What Is Contingency Fee?

NDBS Reader

Posted: October 30 2013

  NDBS Answer:

This is the percentage charged by consultant for the work that is done but payable later.  It is commonly used by lawyers when they have to claim money for a client.  In most cases it is charged at 25%, meaning that if one is claiming R 1 million, R250 000 will go to the lawyer.  It is advisable to sign a contract before starting with the job as the fee can be changed or readjusted.

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