CAPACITY OF THE PURCHASER. In the event that the Purchaser signs this Agreement as agent for a company or close corporation to be incorporated: 13.1. the PURCHASER in his personal capacity shall be regarded as the purchaser in terms of this Agreement unless the said company is incorporated and duly adopts and ratifies this Agreement within 21 (twenty-one) days after the date upon which the SELLER signs this Agreement; and 13.2. in the event of the said company being duly incorporated and adopting and ratifying this Agreement in terms as set out above, then the PURCHASER, by his signature hereto, hereby interposes and binds himself in favour of the SELLER as surety for and co-principal debtor in solidum with such company for the due and timeous performance by it of all of its obligations as PURCHASER in terms of this Agreement.
Appears in 2 contracts
Samples: Building Agreement, Sale Agreement
CAPACITY OF THE PURCHASER. In the event that the Purchaser signs this Agreement as agent for a company or close corporation to be incorporated:
13.1. the PURCHASER in his personal capacity shall be regarded as the purchaser in terms of this Agreement unless the said company is incorporated and duly adopts and ratifies this Agreement within 21 (twenty-one) days after the date upon which the SELLER signs this Agreement; and
13.2. in the event of the said company being duly incorporated and adopting and ratifying this Agreement in terms as set out above, then the PURCHASER, by his signature hereto, hereby xxxxxx interposes and binds himself in favour of the SELLER as surety for and co-principal debtor in solidum with such company for the due and timeous performance by it of all of its obligations as PURCHASER in terms of this Agreement.
Appears in 2 contracts
Samples: Building Agreement, Sale Agreement