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With clear mistakes such as this, the bookmaker will eventually realise when it has received an abnormal amount of wagers on the event, and is likely to cancel all bets placed on this particular event.
Arbitrage is 'Sure Betting' In the world of sports betting the art of arbitrage involves wagering on both or all sides of an event with the right combination of The arbitrage Some sportsbook software providers will allow customers to connect their trading software directly to their feeds so they can view market data in real time and place bets as soon as they find a trading opportunity:. Example: sportsbooksoftware. It takes an enormous amount of mature thinking and unemotional actions to become good at any form of gambling.
The major factor governing arbitrage success is the size of the initial bankroll — the larger it is, the easier it becomes to make faster money in agreeable amounts. But it should always be remembered that the final outcome should pay for the time invested and provide a healthy profit on top. It is also really annoying when the bookies limit your account before your bonus is unlocked. Personally I think surebetting is one of the safest way of making a long term profit.
Also, I found this website: surebetadvice. Good post. Being aware of the risks is very important IMHO. Get an arb trade wrong and the result goes against you, that can serious empty your arbitrage betting bank…. Arbitrage software which we think is pretty good: RebelBetting MathBet. The latter, MathBet specialises on finding cross-market arbitrages, and may be there even the current market leader. Name Required. Mail will not be published Required. For an example of an event with only two possible outcomes e.
They offer the following fixed-odds gambling on the outcomes of the event in both fractional and decimal format:. Bookmaker 1 will in this example expect to earn 5. For an individual bookmaker, the sum of the inverse of all outcomes of an event will always be greater than 1. The idea of arbitrage betting is to find odds at different bookmakers, where the sum of the inverse of all the outcomes are below 1, meaning that the bookmakers disagree on the chances of the outcomes.
This discrepancy can be used to obtain a profit. When there are more than two possible outcomes the value of the subsequent bets can be calculated with respect to the lowest quoted odds. Reducing the risk of human error is vital being that the mathematical formula is sound and only external factors add "risk".
Numerous online arbitrage calculator tools exist to help bettors get the math right. For arbitrages involving three outcomes e. Betting exchanges such as Smarkets have opened up a new range of arbitrage possibilities since on the exchanges it is possible to lay i.
Arbitrage using only the back or lay side might occur on betting exchanges. It is in principle the same as the arbitrage using different bookmakers. Arbitrage using back and lay side is possible if a lay bet on one exchange provides shorter odds than a back bet on another exchange or bookmaker. However, the commission charged by the bookmakers and exchanges must be included into calculations.
Back-lay sports arbitrage is often called "scalping" or "trading". Scalping is not actually arbitrage, but short-term trading. In the context of sports arbitrage betting a scalping trader or scalper looks to make many small profits, which in time can add up. In theory a trader could turn a small investment into large profits by re-investing his earlier profits into future bets so as to generate exponential growth.
Scalping relies on liquidity in the markets and that the odds will fluctuate around a mean point. A key advantage to scalping on one exchange is that most exchanges charge commission only on the net winnings in a particular event, thus ensuring that even the smallest favorable difference in the odds will guarantee some profit.
They typically demand that this amount is wagered a number of times before the bonus can be withdrawn. In this way the bookmakers wagering demand can be met and the initial deposit and sign up bonus can be withdrawn with little loss. The advantage over usual betting arbitrage is that it is a lot easier to find bets with an acceptable loss, instead of an actual profit. Since most bookmakers offer these bonuses this can potentially be exploited to harvest the sign up bonuses. By signing up to various bookmakers, it is possible to turn these "free" bets into cash fairly quickly, and either making a small arbitrage, or in the majority of cases, making a small loss on each bet, or trade.
However, it is relatively time consuming to find close matched bets or arbitrages, which is where a middleman service is useful. As many bookmakers require a certain turnover of the bonus amount, matching money from different bookmakers against each other enables the player to in effect quickly "play free" the money of the losing bookmaker and in effect transfer it to the winning bookmaker.
As well as spending time physically matching odds from various bet sites to exchanges, the other draw back with bonus bagging and arbitrage trading in this sense is that often the free bets are "non-stake returned". This effectively reduces the odds, in decimal format, by 1. Therefore, in order to reduce "losses" on the free bet, it is necessary to place a bet with high odds, so that the percentage difference of the decrease in odds is minimised.
Shop arbitrage also known as sharbing or shop-arbing is the process of using a betting shop 's coupons and a betting exchange to create an arbitrage position.
Delict - claim for damages for abuse of rights - requirements of such a claim - requirements not established. Review — a high court of two judges sitting as a review court is a court of first instance as contemplated in s 16 1 a of the Superior Courts Act 10 of — that court is thus empowered to grant leave to appeal to the Supreme Court of Appeal in terms of s 16 1 a ii — duress allegedly exerted by legal representatives on appellant to plead guilty to theft not borne out by the facts.
Delict — pure economic loss — shareholder suing for diminution in the value of his shareholding — wrong committed against company, not shareholder — shareholder not entitled to recover loss. Prescription - cession of a claim - action instituted by cedent against the debtor - claim ceded after litis contestatio and substitution of cessionary for cedent not objected to - debt not prescribed in terms s 15 2 and 6 of the Prescription Act 68 of Purchase and sale - sale of business, inclusive of goodwill - implied prohibition against seller canvassing customers of sold business - prohibition a term implied by law - only seller bound by it.
Wills Act 7 of , section 4 — whether deceased had testamentary capacity to execute a will — Expert evidence — court must be satisfied with the reasoning which led to conclusion by expert witness- held testatrix not of sound mind at time of execution of will. Trade Marks Act of — s 21 read with s 45 3 thereof empowers the Registrar of Trade Marks to condone the late filing of opposition to an application for the registration of a trade mark and extend the three month period prescribed for the filing of opposition.
Application for condonation under s 3 4 of Act 40 of - requirements of - good cause established for condonation. Prescription — when does prescriptive period commence — agreements of sale of erven not yet created — appellants claimed specific performance of ancillary obligations under the agreements — special plea of prescription raised — respondent contended that prescription commenced on conclusion of the agreements — prescription could only commence when sale agreements enforceable — special plea of prescription dismissed.
Application for the reinstatement of a patient, 30 years old, functioning at the level of a child three years of age, at a community mental health facility — patient a danger to herself, other occupants and staff — institution lacking resources to cope — audi principle had been extensively applied — application dismissed in the high court — application for leave to appeal to SCA — dismissed — no reasonable prospects of success. Civil procedure: rescission application: based on alleged lack of jurisdiction of court that granted order of attachment ad fundandam et confirmandam jurisdictionem: ratio jurisdictionis present: no submission to jurisdiction established.
Reconsideration of an order refusing special leave by two judges of the SCA: test has stringent requirements as the threshold is now higher: whether the courts below, including the decision of the two SCA judges, ought to have granted leave or not: appellant failed to show special circumstances: special leave refused. Legality: an amendment by the Minister of Communications of the Digital Broadcasting Migration Policy in that did not follow a process of consultation was irrational and in breach of the principle of legality: amendment did not achieve its purpose and was thus irrational and invalid on that basis too: the Minister purported to bind regulatory authorities and broadcasters and thus acted ultra vires: amendment reviewed and set aside.
Maritime law — associated ship arrest relying on deeming provision in s 3 7 c of the Admiralty Jurisdiction Regulation Act of the Act — charterer deemed to be owner of ship concerned — charterer includes a slot charterer — application for security in terms of s 5 2 c of the Act — requirements for — prima facie claim — reasonable and genuine need for security — factors relevant to exercise of discretion.
Apportionment of Damages Act 34 of — trial court erred in apportioning damages substantially in favour of respondent — negligence of the two drivers deviated in equal measure from the norm of the reasonable person — when appeal court may interfere with the narrow exercise of judicial discretion by trial court in apportioning damages. Criminal law and procedure — appeal for leave to appeal against refusal by high court to grant leave to appeal brought by way of petition from the regional court - Supreme Court of Appeal does not have jurisdiction to hear the appeal directly from the regional court — trial commenced prior to promulgation of the Superior Courts Act 10 of — appeal must be determined in terms of the Supreme Court Act 59 of — appellant granted leave to appeal against the non-parole period of the sentence — s B of the Criminal Procedure Act 51 of Practice and procedure — application for admission as amicus curiae — rule 16 of rules of Supreme Court of Appeal — process to be followed — admission as amicus does not give rise to a right to make oral submissions — whether entitled to do so determined by Court hearing the appeal — party may only be admitted as amicus if it has new contentions to advance — what constitutes new contentions.
Interpretation of time-limitation clause in written services agreements: whether or not delictual claims are subject to the time-limitation clause: nature of interpretative process considered: delictual claims held not to be subject to the time-limitation clause. Criminal Procedure: Appeal against the refusal of a petition for leave to appeal by High Court before the commencement of the Superior Courts Act 10 of — No leave sought from the court refusing the petition — special leave to appeal granted against conviction by the Supreme Court of Appeal — order a nullity — Supreme Court of Appeal having no jurisdiction.
Criminal Law - whether the State proved beyond a reasonable doubt that appellant was guilty of murder and robbery where the only material evidence was that of an accomplice, a single witness found to be untruthful and whose evidence was not corroborated.
Criminal Law and Procedure — disclosure — accused charged with possession of child pornography — whether prosecution obliged to furnish accused with copies of images said to constitute child pornography as part of pre-trial disclosure. Leave to appeal — refusal of application by two judges of the SCA in terms of s 17 2 of the Superior Courts Act 10 of — application to the President of the SCA in terms of s 17 2 f to refer the decision to the court for reconsideration and, if necessary, variation — a grave injustice constitutes exceptional circumstances.
Criminal Law and Procedure — mens rea — evidence — assault with hay hook across the chest of the deceased — piercing heart and severing rib — conviction of murder with intention in the form of dolus eventualis not correct. Res judicata — appeal against decision of full court dismissed — full court correct in upholding appeal against decision of court of first instance which had wrongly found matter to be res judicata.
Company law — Enquiry in terms of ss and of the Companies Act 61 of — summons to attend — application to set aside summons — abuse of process — what constitutes — fact that the issues canvassed may overlap with issues in pending or contemplated civil litigation not as such a ground for inferring abuse. Criminal Law: Whether the State proved beyond a reasonable doubt that appellants are guilty of murder where the only evidence is that of an accomplice, warned in terms of s of the Criminal Procedure Act 51 of , who was found to be untruthful and whose evidence was uncorroborated.
Application to set aside business rescue proceedings — creditors have a direct and substantial interest — non-joinder of creditors is fatal to the relief sought in the application. Parliament — suspension of member — for refusal to retract a statement ruled unparliamentary. An objector to an application for land development is not entitled to review a decision on the basis that it has not had a hearing prior to the decision being made when in fact it has been heard on more than one occasion and in more than one forum.
Land: unlawful occupation of land owned by provincial government: occupiers of farm land interdicted from taking further occupation of additional land and erecting new structures: did not have consent of owner to settle on additional land and were not deprived of any right unlawfully. Pension Funds Act 24 of — s 30N — discretion conferred on Pension Funds Adjudicator to determine whether interest shall accrue where determination consists of an obligation to pay money, and the rate at which, and date from which it accrues.
Local authority — powers and duties when providing temporary accommodation — rules of a shelter providing temporary accommodation in an emergency are not unconstitutional — appeal upheld. Contract: Lease agreement — landlord and tenant — reciprocity of obligations — obligation on lessor to provide peaceful and undisturbed occupation in return for rental from lessee.
Trade marks and passing off : contested proprietorship of confusingly similar registered trade marks : application and counter-application for expungement of trade marks from register and consequential relief : mark originating from first respondent, a German based company and holding company of a subsidiary which introduced its machines and components into South Africa bearing the mark indicating provenance : years later ownership in subsidiary relinquished : commercial relationship continuing : no acquisition of proprietorship by former subsidiary : licensee and not licensor : ineffective assignment of rights not validly held.
Constitutional law — tender — cancellation of — decision to cancel made in exercise of executive authority — decision not constituting administrative action — reasons for cancellation not offending principle of legality. Town planning scheme — interpretation thereof — dwelling house — what constitutes — local authority proposing to permit temporary informal houses to be constructed on land zoned Residential 1 where dwelling houses could be constructed without further consent — informal houses satisfied the zoning requirements — scheme also empowered the local authority to use land for purposes not in accordance with zoning where it deemed it beneficial to the community or surrounding area.
Review — municipality — illegal building — sections 7 and 21 National Building Regulations and Building Standards Act of the NBSA — adjacent property owner — locus standi at common law — demolition order — exercise of discretion — stark dichotomy between discretion at common law and discretion in terms of s 21 of the NBSA.
Contract - floor plan agreement FPA - Sale and financing of motor vehicles - reservation of ownership until receipt of payment - payment not received — rei-vindicatio - estoppel - possessor not acting reasonably in construing representation by owner that seller entitled to pass ownership — any representation ambiguous — possessor obliged to enquire from owner as to true position — possessor obliged to return vehicle.
Delict — claim for future loss of earnings — applicable contingency percentage rate to be deducted for pre-morbid future loss of earnings — discretion of the trial court to make a subjective estimate — court of appeal may not interfere unless the trial court has misdirected itself — contingency percentage rate to be deducted reduced.
Appellant convicted of rape and indecent assault - sexual intercourse with sixteen year-old girl who has a mental capacity well below her age - consent alleged - consent can only be given by person capable of consenting - expert evidence proving complainant incapable of consenting - appeal dismissed. Declaratory order — should not be issued where dispute has become only of academic interest and where rights of the parties are not determined.
Contract — interpretation — contract not too vague to be enforceable. Building contract: performance guarantee found to be conditional guarantee akin to suretyship. Sentence — leave to appeal — misdirections by trial court — failure to take account of time in prison awaiting trial — failure to make allowance for the fact that both offences constituted a single criminal occurrence. Interpretation of statute: National Credit Act 34 of section 12B 1 b inserted by National Credit Amendment Act 19 of section has no retrospective application and did not invalidate the agreement relied upon by the respondents: summary judgment correctly granted.
Land claim to the Salem Commonage under Restitution of Land Rights Act 22 of the Act : whether requirements for restitution established: Hearsay and expert historical evidence: proper approach to and admissibility of: approach to evidence as decreed in the Act to be applied in a manner consistent with the spirit and purpose of the Act. Vicarious liability — on duty police reservist shooting partner with service pistol — whether a sufficient link between the wrongful conduct of the police officer and the business of South African Police Service.
Applicant suffering in terminal stages of cancer — sought an order that medical practitioner could administer a lethal agent at his request or provide him with a lethal agent that he could administer himself — applicant dying before court granting order — claim ceased to exist — court not entitled to grant order — law in relation to physician administered euthanasia and physician assisted suicide — not appropriate case in which to develop the common law of murder and culpable homicide.
Education — Powers of the MEC to make regulations relating to the administration of public schools hostels — s 27 1 of the North West Schools Education Act 3 of — ss 9, 12 and 20 1 g of the South African Schools Act 84 of — interpreted in the light of s 29 1 and 28 2 of the Constitution — hostel regulations within the powers of the MEC. Company law - application for rescission of an order enabling enquiry into the affairs of a company in voluntary liquidation in terms of s of the Companies Act 61 of - ex parte application made to enable enquiry met the requirements of s of the Act - appeal dismissed with costs.
Extradition: meaning of extraditable offence in Extradition Act 67 of double criminality: conduct to be criminal under law of requested State at date of extradition request not date of commission of offence: certificate under s 10 2 of the Extradition Act: conclusive proof that evidence warrants prosecution in foreign State: fugitive liable to be surrendered to foreign State. Prescription : No evidence that the appellant knew or could by the exercise of reasonable care, have acquired knowledge of the facts giving rise to the invalidity of the sale agreement before the effluxion of the three year period of prescription : Counterclaim : the individual registrations and transfers of ownership in the three individual portions of land with their own cadastral descriptions were effected by separate real agreements and were not prohibited by law.
Admiralty Jurisdiction Regulation Act of — maritime claim involving loss of life at sea — boat capsized when struck by unusually large wave — whether skipper of boat negligent — no negligence established — appeal allowed and claim for damages dismissed.
Local authority: building plans: national building regulations: temporary building: must be determined by objective assessment of its nature and purpose: cellular communications base station and mast not a temporary building: building plans wrongly approved.
The Prevention and Combating of Corrupt Activities Act 12 of does not limit the penal discretion of the sentencing court: sentence of a fine not appropriate for a public officer convicted of contravening s 4 1 a i aa of the Act: failure by the trial court to have regard to all relevant considerations constitutes a misdirection warranting interference with the sentence imposed. Prescription — extinctive — claim based on agreement providing for a loan repayable in instalments and containing acceleration clause — only enforceable where creditor has made election to cancel agreement and claim full amount — prescription accordingly commences running upon election being made.
Delictual claim : theft of diamonds from employer : admissibility of confessions to the acts in question and admission of the quantum : threat of criminal prosecution and adverse publicity : not contra bonos mores : the creditor not exacting or extorting something to which it was not otherwise entitled : evidence admitted : claim enforceable : appeal dismissed with costs.
Contingency Fees Act 66 of — exclusion of award for future medical expenses from agreement — not permitted. Murder — second offender committing murder whilst on parole — sentenced to 14 years of imprisonment of which six years suspended for five years — sentence startlingly inappropriate having regard to the degree of violence involved in the current and previous offences.
Criminal Procedure — appeal against conviction — leave to appeal refused by regional magistrate — petition refused by the court a quo — special leave to appeal against conviction granted by the Supreme Court of Appeal — Section of the Criminal Procedure Act — whether leave to appeal ought to have been granted.
Companies Act 71 of business rescue proceedings: whether a company which is in financial distress has reasonable prospects of being rescued as envisaged in s 4 a of the Act: a final order for winding-up of the company more beneficial for the creditors. Statutory power to lay pipeline across private land — s 24 j of Act 17 of — no servitude registered over land in respect of pipeline — property sold to new owners — no right to claim removal of pipeline — court not empowered to order the registration of servitude in respect of pipeline — no claim for compensation by new owner against water board.
Delict — negligence — liability for — causation — person unable to walk and confined to wheelchair after medical treatment for injuries sustained in motor collision — negligence of hospital staff a novus actus interveniens. Leave to appeal — to be granted only if truly reasonable prospects of success or compelling reason for appeal to be heard. Estate Agency Affairs Act of — estate agent company converted to close corporation in terms of s 27 of the Close Corporations Act 69 of — Estate Agency Affairs Board not advised of conversion — fidelity fund certificate issued to non-existent company — certificate invalid — close corporation precluded from recovering commission.
Contract - interpretation - term contended for by the appellant excluded by clear terms of the agreement - clear terms cannot be altered by contextual evidence of implementing the contract. Criminal Law and Procedure — appeal against the refusal of application for leave to appeal by high court following a refusal to grant leave to appeal against both the conviction and sentence by the trial court — Section 16 1 b of the Superior Courts Act 10 of Civil Procedure: an order by the high court postponing, sine die, an application for default judgment, and directing the appellant to file, at the next hearing within not less than six months of the said order, an affidavit detailing attempts to prevent foreclosure, is not appealable.
Appeal struck from the roll for lack of jurisdiction. Winding-up application: respondent disputing debt on bona fide and reasonable grounds: court a quo referring matter to oral evidence: winding-up proceedings not designed for the enforcement of disputed debts. Restitution of Land Rights Act 22 of — Land Claims Court — powers — claim for restitution of commonage — mining right in terms of Mineral and Petroleum Resources Development Act 28 of — whether Land Claims Court has power to order the expropriation of right and its expungement.
Delict - failure to take reasonable care to prevent stillbirth - Claim for emotional shock - damages awarded in the amount of R - claim for constitutional damages based on the right to rear a child - not sustainable. Practice - requirements of stated case in terms of Uniform rule 33 - facts must be stated with adequate clarity and specificity - role of a trial Judge.
Section 44 1 of the Insolvency Act 24 of applies to the proof of claims in the winding-up of companies and fixes a time-period for such proof, and for making a claim after the expiry of the time period with the leave of the Master or a court. Trade Marks Act of — ss 34 1 a b and c — infringement — trade mark sufficiently dissimilar to registered trade mark — likelihood of deception or confusion not established — Companies Act 71 of — s 11 2 — company name not confusingly similar to appellants company names and registered trade marks.
Banking Law: unregistered person conducting the business of a bank in contravention of certain provisions of the Banks Act 94 of appointment of a repayment administrator in terms of s 84 of Banks Act to recover and take possession of assets of the unregistered person: extent of powers of repayment administrator: unregistered person subsequently sequestrated and trustees appointed: effect of powers of trustees on those of repayment administrator.
Recording of the private deliberations on judicial appointments by the Judicial Service Commission, properly conducted in terms of the Judicial Service Commission Act 9 of and regulation 3 k made thereunder, does not form part of the record of its proceedings for purposes of Uniform rule 53 1 b — constitutional principles of openness and accountability are not absolute and the JSC is entitled to raise the defence of confidentiality to a rule 53 demand for the disclosure of the recordings of its private deliberations.
Interdict — student protests — requisites for the grant of an interdict — whether requisites satisfied — nature of relief to be granted. Constitution - right to adequate housing — private construction company not an organ of state and incurs no constitutional obligations independent of any statutory or contractual obligations when it contracts to build low cost housing funded by the State - houses allegedly defectively built — arbitration pending between developer and construction company — City of Cape Town not a party to the arbitration and has no locus standi to have the arbitration declared lapsed — principle of subsidiarity applies where parties seek to enforce socio economic rights — should first rely on existing statutes or challenge those instruments as unreasonable.
Land — Extension of Security of Tenure Act 62 of ESTA — notice given of eviction in terms of s 8 of ESTA not valid if given before CCMA makes determination on labour dispute — failure to satisfy the requirements for a valid notice of eviction in respect of an occupier previously employed by landowner — notice properly given to spouse — right to family life in terms of s 6 2 d of ESTA prevents eviction of one spouse while the other remains.
Procedure: Application for reinstatement of an appeal and condonation for late compliance with rules of court refused because of extreme and inexplicable delay, and no reasonable prospects of success on appeal. Prescription: Debt of long term insurer becomes due when insured dies and beneficiary has knowledge of the death and of the existence of the policy. Trust and trustee - removal from office on grounds of misconduct - power of the high court to remove trustee under the common law not abrogated by s 20 1 of the Trust Property Control Act 57 of Trust - termination of - power of the court in terms of s 13 of the Trust Property Control Act to terminate a trust circumscribed.
Evidence obtained as a result of an unlawful search in violation of right to privacy — evidence of pointing out obtained after failure to explain consequences of not remaining silent and co-ercion — detrimental to administration of justice — evidence inadmissible in terms of s 35 5 of the Constitution.
A written agreement for the sale of an immovable property in respect of which the party who signed the agreement as the purchaser is not the true purchaser as a result of a bona fide error common to the parties: the agreement is capable of rectification to reflect the true purchaser where ex facie the document all the essential elements for a valid contract for the sale of land have been met.
Trade mark - registered trade mark THE LOOK used in fashion retail industry - mark has no inherent or acquired distinctiveness - removal from the trade mark register ordered. Arbitration - Arbitration Act 42 of - statement of case to court in terms of s 20 1 refused for being imprecise - appellant making a qualified request for referral to court - such request impermissible - s 20 1 only applicable where questions of law arise during the course of arbitration - party to an arbitration not entitled to refer to court the very issues referred for arbitration - Arbitrator did not deprive appellant of his right in terms of s 20 to approach court.
Civil Procedure and Practice — an order amending the incorrect description of a defendant in a summons does not amount to a substitution of the defendant where the summons was served at the offices and on the director shared by the incorrectly cited party and the true defendant who was clearly recognisable from the original summons — original summons complied with the requirements of s 15 1 of the Prescription Act 68 of and service thereof interrupted running of prescription.
The disruption of the cell phone signal in Parliament during the State of the Nation address was in contravention of the s 4 1 of the Powers, Privileges and Immunities of Parliament and Provincial Legislatures Act 4 of and was unlawful. Contract - acknowledgement of debt and undertaking to pay - evidence contradicting the terms of the agreement rendered inadmissible by the parol evidence rule - judgment granted in terms of the agreement.
Pension funds — local authorities in KwaZulu-Natal obliged to associate as employer with one or more of the respondents — not entitled to associate with appellant fund to the exclusion of the respondents — local authority employees obliged to be members of one of the respondents. Provincial heritage resources authority granting a permit in terms of s 34 of the National Heritage Resources Act 25 of for the demolition of a structure older than 60 years situated on a property with no formal heritage status: in so doing conditions were imposed controlling future development on the property: held that such conditions were lawfully imposed.
Customs and Excise Act 91 of - ss 20 4 , 38, 39 and do not create an embargo in favour of the Commissioner preventing a liquidator from taking possession of property in terms of the Insolvency Act 24 of until duty and VAT is paid.
Prescription : the date upon which a debt becomes due must not be conflated with that when repayment thereof is demanded : a debt which is repayable on demand becomes due the moment the money is lent to the debtor : claim prescribed : appeal dismissed with costs. Road Accident Fund Act 56 of — a claim for future medical expenses based on an undertaking in terms of s 17 4 a i of the Act in respect of an action for damages arising from a motor vehicle accident lodged in terms of s 17 1 of the Act is not subject to prescription under the Prescription Act 68 of , instead, s 23 3 of the Road Accident Fund Act as it read prior to its amendment in is applicable.
Civil Procedure - Costs - Award of costs is at the discretion of the court of first instance - Power of appellate court to interfere with the exercise of such judicial discretion circumscribed. Contract: where a lease is terminable on the giving of reasonable notice, the lease must be interpreted to determine what is reasonable in the circumstances; an application for eviction of a lessee must be determined on the basis of the averments made by the applicant that are not disputed by the respondent, and the version of the respondent that is not implausible, far-fetched or not credible.
Absolution from the instance erroneously granted — no onus to prove admitted issue — matter remitted to trial court. Contract: damages for breach of warranty: onus on plaintiff to prove diminution in value of property as a result of breach of warranty: the evidence must show an adverse difference between the purchase price and the market value of the property: the purchase price paid for the property was lower than its market value: breach of warranty did not result in loss of value of the property.
Constitutional law — Practice — Construction of judgments and orders — Principles applicable — When Chapters V and VI of the Development Facilitation Act 67 of declared invalid, by Constitutional Court, declaration of invalidity suspended for 24 months on conditions — Suspension period expiring without enactment of remedial legislation — court order not granting tribunal power to decide application after expiry of suspension period — appeal upheld.
Criminal Law — Rape of daughter by biological father on two separate occasions on the same day — daughter falling pregnant — charged on two counts of rape in terms of section 51 of the Criminal Law Amendment Act of — entered plea of guilty in terms of section 2 of the Criminal Procedure Act 51 of — convicted on two counts of rape — defect in charge sheet did not render the proceedings invalid — sentence of life imprisonment appropriate.
Attorney: Section 22 1 d of Attorneys Act 53 of : misconduct : appropriate sanction : court a quo misdirecting itself in the exercise of its discretion : attorney suspended from practice until such time as he satisfies the court that he is a fit and proper person to resume practice as an attorney. Appeal from Tax Court — s 1 of Tax Administration Act 28 of — only decisions under ss and appealable — interlocutory ruling on onus and duty to begin not a decision in terms of s 1 and 2 — ruling not appealable.
Sentence - Appeal against sentence of life imprisonment for murder - appellants the middlemen in contract killing - only co-operated with police and admitted guilt after conviction - no true remorse - no substantial and compelling circumstances to depart from minimum sentence - sentences confirmed on appeal.
Practice and procedure - Rule 33 4 of the Uniform rules - trials - order separating merits from quantum not desirable where issues are inextricably linked. Locus standi in judicio — mother purporting to institute action on behalf of her adult daughter — lacks locus standi to do so. Criminal Procedure — court a quo granted leave to appeal against conviction on some charges and refused leave on others — appellant applying for leave to appeal against conviction on those charges in respect of which leave was refused — appellants found guilty on the basis of common purpose — sentence — cumulative effect.
Power of Registrar of Patents to extend time periods within which any act or thing is required to be done in terms of the Patents Act 57 of — provisions of s 16 2 of the Act not limited by Regulation 83, which sets the times for filing a counterclaim in relation to an application for restoration of a patent.
Customs duty levied under Customs and Excise Act 91 of — principles to be applied in interpreting the Schedule to the Act - correct tariff to be applied in respect of coconut milk, coconut cream and coconut powder. Marine Insurance — hull policy — Inchmaree clauses — vessel lost in collision as a result of negligence — whether claim for indemnity barred by virtue of a breach of a Merchant Shipping Act warranty — application of warranty — whether collision resulting from a want of due diligence by the owner.
Local Government — Section 3 of the Local Government: Municipal Systems Act 32 of creating charge on land hypothec in favour of municipality for debt due to it for rates, taxes and services — hypothec not extinguished upon transfer — municipality must comply with jurisdictional requirements in terms of own by-laws before pursuing owner for debt.
Whether prescription delayed in terms of s 13 1 g of the Prescription Act 68 of Insurance policy - alleged fraudulent claim - arson - insurer failing to discharge onus of proving that insured was the arsonist or that insured is precluded from claiming loss due to his failure to take reasonable steps and precautions to prevent the loss. Criminal Procedure: appeal against refusal by court below to grant leave to appeal on petition: test is whether the appellant has reasonable prospects of success on appeal: leave to appeal against refusal of petition is granted.
Reconsideration of an application for leave of appeal under s 17 2 f of the Superior Courts Act 10 of — lodging an application for reconsideration outside stipulated one month period — there is no time limit where the President of the Supreme Court of Appeal refers an order for reconsideration mero motu. Civil Procedure - Uniform rules of court - application to strike out the defence in application for return of items seized in terms of warrant of search and seizure - where such application is made, and criminal proceedings are pending or have been reinstituted, court must consider the interests of justice, policy and public considerations in the exercise of its discretion to grant order - court should be loath to issue civil declaratory orders in matters which are the subject of criminal proceedings.
Criminal Procedure Act 51 of CPA — section B of the CPA grants the State the right to appeal against a sentence imposed by a superior court sitting as a court of first instance to the Supreme Court of Appeal — no provision in the CPA enabling the State to appeal against a sentence imposed by a superior court sitting as a court of appeal against sentence imposed by a regional court — no such right provided for in s 16 1 b read with s 17 1 a i and ii of the Superior Courts Act 10 of — this court has no jurisdiction — appeal struck from the roll.
Patent — alleged lack of novelty — requirements of disclosure and enablement — selection patent — conditions for validity of. High Court and Labour Court — concurrent and exclusive jurisdiction — validity of extension of collective agreement to non-parties — arising out of the Labour Relations Act 66 of — matter within exclusive jurisdiction of Labour Court.
Local Authority — Municipality — Imposition of property rates in terms of s 10G 7 of the Local Government Transition Act of — When exercising its power in terms of s 10G no need to comply with the prescripts of provincial rating ordinance — Not obliged to determine rates annually - Rates levied during a specific financial year did not lapse at the end of financial year.
Constitutional law - constitutional challenge to Act s 7 1 a of the Criminal Procedure Act 51 of - whether the section is unconstitutional insofar as it allows only private persons to institute private prosecutions and not juristic persons - whether the differentiation is rationally connected to a legitimate governmental purpose. Municipal property rates: s 1 of the Local Government: Municipal Systems Act 32 of rates are payable by a township owner over the remaining extent of the township as a single entity, and not all the unsold erven separately.
Where a township owner sells an erf in the township, and applies for a clearance certificate in respect of municipal rates and charges, required before transfer can be effected, the municipality must determine the rates and charges payable over the preceding two years in connection with that erf and issue the certificate against payment of that amount. Criminal law — leave to appeal — sought on basis of duplication of charges — refused by regional magistrate and high court — State conceding existence of reasonable prospects of success — leave granted.
Theft of trust funds by attorney — s 48 1 a of the Attorneys Act 53 of — when claimant became aware of theft — stated case in terms of Rule 33 1 of the Uniform Rules of Court — status of evidence agreed upon — drawing of inferences from agreed facts as to when claimant became aware of theft.
Criminal appeal against convictions and sentences — appellant convicted on multiple counts — whether the appellant was a member of the gang of robbers — evidence by a single witness — circumstantial evidence — adequacy of the evidence. Appeal against a refusal for application for leave to appeal —complaint of duplication of charges —reasonable prospects of success in contemplated appeal.
Income Tax Act 58 of — whether valid and binding salary sacrifice agreement achieved. Where a sale giving rise to the transfer of immovable property is induced by fraudulent misrepresentation, such that the owner does not intend to transfer ownership, registration of the transfer is of no force. A person who is not the owner of immovable property cannot grant a valid mortgage bond over it. Contract — justifiable withholding of reciprocal obligation to perform — reasonable person not perceiving conduct as repudiation — subsequent cancellation reasonably perceived by innocent party as repudiation — ensuing cancellation justified — quantum of damages awarded not proved — court re-assessing damages.
Delict — trading in competition with a contracting party in contravention of a restraint clause in a lease agreement constitutes unlawful interference in the contractual relationship between the contracting party and the landlord — an exclusivity clause in a lease agreement is an integral part of that lease and not a collateral right. Search warrant — should be addressed to a specifically named police official — where search relates to a statutory offence, as opposed to a common law crime, the warrant should pertinently refer to the specific statute and the section or subsection thereof — affidavit upon which search warrant based must accompany warrant when executed — appeal upheld — warrant set aside and goods seized ordered to be returned.
Review — Section 3 3 a of Local Government: Municipal Property Rates Act 6 of — council resolution not to exempt ratepayers, who provide their own services, from paying rates — whether equitable. Sale - by non-owner - obligations - required to deliver vacua possessio only and to warrant against eviction - not obliged to transfer ownership - appeal dismissed.
Administrative Law — administrative action — what constitutes — effect of failure of official of municipal council to communicate resolution of council correctly — official not empowered to make decisions on behalf of council — act of official merely administrative error not amounting to administrative action — resolution of council valid and binding. Criminal Procedure - sentence - prescribed sentences - imposition of in terms of the Criminal Law Amendment Act of read with Part I of Schedule 2 - gravity of offence coupled with lack of genuine contrition rendering life imprisonment an appropriate sentence.
Criminal Procedure - Appeal against order of the High Court refusing leave to appeal in terms of s 7 c of the Criminal Procedure Act 51 of - refusal of condonation by lower court when there are no reasonable prospects of success of appeal may be appealed against to the high court if leave to appeal is granted by the high court. Necessity for judges considering petition to have at their disposal documents listed in s C 4 of the CPA for a proper adjudication of petition explained.
Water - interpretation of permit issued in terms of s 62 2I a i of the Water Act 54 of - meaning of permit clear from words used and context - contrary result sought by respondent could only be achieved by variation of the permit on review - respondent elected not to pursue review - liability of respondent for payment of levies in respect of water supplied by the Trans-Caledon Tunnel Authority not established.
Health Professions Act 56 of — discussion of steps required to establish a new regulated health profession in terms of that Act — challenge to Regulations by Minister setting up regulatory regime in respect of dental assistants — challenge time-barred in terms of s 7 1 of the Promotion of Administrative Justice Act 3 of in respect of most of the regulations — challenge in respect of remaining regulations defining scope of the profession as contemplated in s 33 of that Act rejected — exception to general rule relating to costs in constitutional matters applied due to the manner in which litigation conducted.
Rules of medical scheme registered under Medical Schemes Act of seeking to limit payment of expenses for treatment of prescribed minimum benefits envisaged by regulations under the Act to expenses incurred at a public or state institution - medical scheme may not by its rules avoid obligation to pay full costs of treatment even where administered in a private institution.
Arbitration in terms of Petroleum Products Act of - section 12B - interpretation of. Evidence — s 3 1 c — Law of Evidence Act 45 of — admissibility of hearsay evidence — murder — legal causation. Whether option had been granted: option for the purchase of a portion of agricultural land without Ministerial consent — prohibited in terms of s 3 e i of the Subdivision of Agricultural Land Act 70 of Power of court of appeal — power in terms of s 16 2 a i of the Superior Courts Act 10 of to dismiss appeal where judgment or order sought would have no practical effect or result.
Contract — sale of land — whether terms and conditions in written agreement fulfilled — recusal — trial judge refusing recusal application after dismissal of application of absolution from the instance — no basis for application for recusal of trial judge. Education — public schools — powers of governing bodies to determine admissions policy and capacity of public schools not absolute — s 5 5 of the South African Schools Act 84 of must be read with other applicable law — education department exercises ultimate control — powers of the department to be exercised reasonably — parties must engage with each other in good faith — principle of co-operative governance paramount.
The grant by default of an order under s 1 of the Companies Act 61 of , where no evidence has been adduced, is erroneous within the meaning of Rule 42 1 a of the Uniform Rules of Court: order set aside on appeal. Admissibility of hearsay evidence by co-accused contained in extra — curial statement — record incomplete — import of presiding judge or registrar administering the oath in terms of s of the Criminal Procedure Act 51 of Criminal Procedure — appeal against refusal to grant leave to appeal on petition — whether leave to the high court ought to have been granted.
Administrative review — respondent seeking review and setting aside of its own decision to award tender for the decommissioning of Athlone Power Station to appellant — day time limit envisaged in s 7 1 of the Promotion of Administrative Justice Act 3 of not met — no fraud or corruption involved in procurement process and irregularities, if any, not material — no case made out for the extension of time limit under s 9 1 of the Act.
Insolvency Act 24 of - validity of search and seizure warrant granted by magistrate in terms of s 69 3 of Insolvency Act 24 of — distinction between such a warrant and one issued under the Criminal Procedure Act 51 of — anomalies in warrant not rendering it invalid — warrant not too broad in scope. Criminal Procedure — Sentence — convicted of six counts of fraud to the tune of R Insolvency - dispositions - requirement in s 29 of the Insolvency Act that dispositions must be made in the ordinary course of business - broad test restated and applied - dispositions made pursuant to void contracts - test not satisfied - dispositions correctly set aside - mora interest on an award setting aside such disposition under s 32 3 of the Insolvency Act - debt arises only on judgment - no amount due before judgment on which mora interest can run - mora interest to run only from date of judgment.
Business rescue — application for setting aside of business rescue plan — non-joinder of creditors having direct and substantial interest — notice in terms of section of the Companies Act 71 of Act insufficient — counter-application declaring certain suretyships void — rendered moot on dismissal of main application — costs of. Attorney — Misconduct — Appropriate Sanction — Misappropriation of trust moneys — Whether warranting suspension or removal — Three-stage enquiry for removal of attorneys from roll restated — Attorney guilty of dishonesty - Attorney having failed to take responsibility in initial responses — Sanction of suspension not suitable — Errant attorney struck off.
Contract comprising written document, oral agreement and emails enforceable: evidence demonstrated intention to conclude contract in this way, as well as actual authority of representatives to bind the appellant. Principles of contractual intepretation considered. Sentence — imprisonment of non-parole period ordered in terms of s B 1 of Criminal Procedure Act 51 of — non-parole order to be made only in exceptional circumstances - court required to afford parties opportunity to address court on making such an order and the period thereof — failure to do so constitutes misdirection.
Financial Services Advisory and Intermediary Services Act 37 of — debarment in terms of s 14 1 — precludes representative from rendering financial services on an industry-wide basis. Delict — medical practitioner — professional negligence —surgical procedure resulting in high riding patella — primary surgery improperly performed — medical practitioner negligent — defence of contributory negligence dismissed — third appellant vicariously liable to compensate respondent.
Delict - failure to protect a section of a stairway with a hand-railing - such omission wrongful and negligent - respondent who fell from stairway not shown to have been negligent. Appeal dismissed. Evidence — proscriptive evidence — s 35 5 of the Constitution — evidence excluded because its admission detrimental to the administration of justice.
Ownership of Land: whether an encroacher can bring an independent cause of action claiming transfer of the encroached — upon land in the absence of a removal order by the owner of the land — Building — Illegal structure — No approval of building plans by local authority. Pensions - transfer of membership from respondent fund to appellant funds - interpretation and application of rules of respondent fund relating to transfer - partial compliance with rules insufficient - no valid transfer.
Special plea of lack of jurisdiction correctly dismissed. Whether absent a provision similar to the repealed s 13 of the Companies Act 61 of an incola company can be compelled to furnish security for costs. Tax Administration Act 28 of — section — appointment of a curator bonis. Competition Law — leniency under Corporate Leniency Policy — appellant participated as a self-confessed member of a cartel in complaint proceedings before the Competition Tribunal — order by the Tribunal finding that the appellant was involved in a prohibited practice — appellant excluded from the complaint referrals — whether such order competent — Tribunal having no power to make any order against appellant — order relating to appellant a nullity — no need to set aside order — the Tribunal or its Chairperson cannot issue a certificate under s 65 6 b of the Competition Act since order on which that certificate based a nullity.
Delict — claim by dependants for loss suffered through death of their breadwinner who fell over a sheer precipice in a mountain resort — liability of respondents as owner and entity in control of resort — element of wrongfulness, negligence and causation considered. Rape conviction — whether guilt proved beyond reasonable doubt on evidence of a single witness — application to adduce further evidence — principles restated. Section and s of the Criminal Procedure Act 51 of —whether separation of trials is mandatory where accused do not all face the same charges but where the State alleges a common purpose to defraud and there is a great deal of overlap — to be decided on consideration of prejudice.
In terms of s 16 1 b of the Superior Courts Act 10 of , an appeal to this court against a decision of a court on appeal to it lies only with the special leave of the Supreme Court of Appeal. An order granting leave to appeal to this court by the provincial division is a nullity and this court has no jurisdiction to hear the appeal. Sentence - imposition of - factors to be taken into account - appellant convicted on 64 counts of fraud, one count of theft and one count of money laundering - minimum sentencing provisions of the Criminal Law Amendment Act of not applicable - period spent in prison awaiting trial being one of the factors to take into account in determining appropriate sentence - leave to appeal - s 16 1 b of the Superior Courts Act 10 of - an appeal to this court against a decision of a division of the high court on appeal to it competent only with the special leave of the Supreme Court of Appeal.
The winding up of a close corporation during the period of deregistration is automatically retrospectively validated upon reinstatement in terms of s 82 4 of the Companies Act 71 of Criminal law and procedure — application in terms of s 16 1 b of the Superior Courts Act 10 of for special leave to appeal against a decision of a division of the high court sitting as a court of appeal — high court has no jurisdiction to hear application — special leave of the Supreme Court of Appeal is required — special leave to appeal against sentence granted.
Costs — subsequent events and statutory amendments rendering appeal academic — liability for costs. Criminal Procedure — appeal against refusal to grant leave to appeal on petition — question to be adjudicated is whether the appellant has reasonable prospects of success on appeal and whether there are any other reasons why an appeal should be heard.
Software license agreement — unlicensed copies made by licensee in breach of agreement — interpretation of clause providing for that event — maintenance agreement providing for payment per unit in respect of licensed copies — whether licensee also liable in respect of unlicensed copies. Mining — prospecting right — when granted in law — whether BEE compliance can be attached as a condition of the right — lapsing of the right due to expiry.
It provides an overview of risk arbitrage, how it has been used over the centuries and particularly in modern markets, with a focus on merger arbitrage. Risky application of the Law of One Price o Conditional on deal success, there is.
Merger arbitrage represents an opportunity to generate stable returns. Tweet Widget Facebook Like. Download PDF. Merger arbitrage involves risk because the arbitrageur will incur a loss if the merger fails. Sports arbitrage betting - recognize, avoid and control risks and find solutions. Risk arbitrage, also known as merger arbitrage, is an investment strategy that speculates on the successful completion of mergers and acquisitions. Jump to section. Several studies, however, have reported large excess returns i.
Risk arbitrage commonly invokes images of extraordinary profits and in-credible implosions. Risk Arbitrage. Wyser-Pratte, Originally published in , Risk Arbitrage has become a classic on arbitrage strategies by the "dean of the arbitrage community.
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Risk Arbitrage provides the essential guidance needed to participate in the business. Risk arbitrage is a type of event-driven investing in that it attempts to exploit pricing inefficiencies caused by a corporate event. The arbitrageur in-vests with the intent of profiting from changes in the value of the securities on the consummation of the transaction. Overall, existing academic studies find that risk arbitrage generates substantial ex-cess returns.
This article explores the cross sectional variation in risk arbitrage spreads. Numerous articles in the popular press detail large prof-its generated by famous arbitrageurs such as Ivan Boesky and even larger losses by hedge funds such as Long Term Capital Management. You can categorize arbitrage in the real world into three groups:!
This paper follows the methodology of Mitchell and Pulvino and Baker and Savasoglu in a time-series analysis of the returns given by merger arbitrage. Risk arbitrage an investment strategy to profit from the narrowing of a gap of the trading price of a target's stock and the acquirer's valuation of that stock in an intended takeover deal.
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