Common use of Capacity of Parties Clause in Contracts

Capacity of Parties. a) The Employer signing this agreement on behalf of an existing Private Company, Close Corporation or Trust, binds himself personally as surety and co-principal debtor jointly and severally for the proper fulfilment by the juristic person or Trust of all its obligations in terms of this agreement. b) Any natural person signing on behalf of a juristic person or Trust, whether registered or still in the process of registration, personally warrants that the entering into of this agreement by the juristic person concerned is within the scope of its powers, objectives and authority and does not contravene any provisions of the Companies Act 71 of 2008, the Close Corporations Act 69 of 1984, the Trust Property Control Act 57 of 1988 (or any replacement of these Acts) or any new legislation that replace the said acts, and that all the necessary steps have been taken to give the signatory the power to execute this agreement on behalf of the juristic person and in particular, but without limitation, the directors, members or Trustees have approved this agreement in specific terms. In the event of more than one Employer being a party to this agreement, they shall be jointly and severally liable for their obligations arising in terms of this contract.

Capacity of Parties. a) The Employer natural person signing this agreement as Purchaser on behalf of an existing Private Company, Close Corporation or Trust, binds himself personally as surety and co-principal debtor jointly and severally for the proper fulfilment by the juristic person or Trust of all its obligations in terms of this agreement. b) Any natural person signing on behalf of a juristic person or Trust, whether registered or still in the process of registration, personally warrants that the entering into of this agreement by the juristic person concerned is within the scope of its his powers, objectives and authority and does not contravene any provisions of the Companies Act 71 of 2008, the Close Corporations Act 69 of 1984, the Trust Property Control Act 57 of 1988 (or any replacement of these Acts) or any new legislation that replace the said acts, and that all the necessary steps have been taken to give the signatory the power to execute this agreement on behalf of the juristic person and in particular, but without limitation, the directors, members or Trustees have approved this agreement in specific terms. In the event of more than one Employer Purchaser being a party to this agreement, they shall be jointly and severally liable for their obligations arising in terms of this contract.