Afik News is the bi-weekly professional magazine of Afik & Co. Attorneys and Notary
SubscribeWhen an apparent contract reflects the parties’ intention it shall not be canceled even if it entails inaccurate facts
Business, Corporate and Joint Ventures
Commercial, Banking and Financial
Dispute Resolution
Investors in a company contended that the share purchase agreement was an apparent contract because it hid the fact that the company allocated to one of the shareholders against a shareholders loan. The Court rejected the claim and stated the contract is not an apparent one. A contract entered into for appearance is a contract […]
A bank may refuse to grant services if there is suspicion of breach of international sanctions
Commercial, Banking and Financial
Dispute Resolution
An Israeli citizen whose name was included in the European Union’s sanctions list, which demands the freezing of his assets, requested to donate a considerable sum to Zaka (Israeli non-profit of voluntary community emergency response teams). The Supreme Court rejected the motion to force the bank to accept the funds and held that the bank […]
I now pronounce you partner and partner
Business, Corporate and Joint Ventures
An article on the meaning of a joint activity without an agreement, which may create the status of a partnership, on all the meanings of this. The article was written by attorney Yair Aloni from Afik & Co.
Tagging on Facebook may be deemed defamation
Privacy, GDPR, Confidentiality and protection of reputation
Dispute Resolution
A person published defamatory posts on Facebook about several people in connection with franchise services, inter alia by implying that they are involved in fraudulent activities. Furthermore, the person tagged their names in the posts. The Court held that the posts amount to defamation. Defamation is defined as something the publication of which may humiliate […]
In the absence of a personal guarantee one cannot demand from an intermediary party to repay a third-party debt
Commercial, Banking and Financial
Dispute Resolution
One gave his friend $50,000 so that he would allegedly transfer it as a loan to a third party. After the loan was not repaid, he demanded that his friend repay the loan as he had given him his “word” that he is “responsible” for the loan being repaid. The Court rejected the claim and […]
Representation that were not included in a contract may be deemed waived
Commercial, Banking and Financial
Dispute Resolution
Two experienced businessmen, who entered into an agreement to separate their assets, discovered that representations presented to each of them by the other party regarding the company that passed into his possession, prior to the execution of the separation agreement, but were not put into the agreement are incorrect. The Court rejected the mutual claims […]
A middleman is not entitled to commission for that part of the transaction made after expiry of the tail period of the middleman agreement
Commercial, Banking and Financial
Dispute Resolution
A seller in a transaction for a sale of a company refused to pay the middleman for exercising the purchaser’s unilateral option to purchase the remainder of the company’s shares, even though the terms of the option appeared in the purchase agreement concluded through the brokerage of the middleman, including because of the fact that […]
An apartment tendered to the purchaser with defects that affect the comfort of living only is not deemed an apartment that was not tendered
Real Estate
Dispute Resolution
A contractor tendered apartments to the purchasers and they were used for their residences for over a decade, during which entire period the apartments were connected to electricity, but the electricity supply through the Israeli Electric Company was regulated only after a decade. The purchasers considered the whole period as a delay in the delivery […]
