In addition, property owners and restaurateurs are usually joint applicants for licenses and authorizations in business transactions. This is a slightly risky proposal for property owners, because tomorrow, in the event of a fire or incident, even property owners can be held responsible or personally held responsible for the losses that may incur people who go there. Therefore, if a business agreement, essentially a leave and license, is signed between a property owner and a restaurateur and is not registered, the parties may not be able to assert the rights of the agreement. If there is an argument and the landlord wants to chase the tenant out of the restaurant, he will encounter extreme difficulties, since his agreement cannot be obtained in evidence. It is therefore extremely important that owners of real estate avoid entering into unregistered business settlement agreements and simply enter into a registered holiday and licence agreement to rent premises to a restaurant for operating purposes. Such agreements tend to break the law because they are essentially an unregistered “Leave and License” agreement that the law does not recognize unless it is registered. Any agreement, instrument or document purporting to transfer shares of immovable property for 12 months or more must be registered in accordance with section 17 of the Registration Act 1908. If it is not registered, it is not sought as evidence in court. A. ) Leave and License is like a lease to provide part of the property.
Business activity could be some sort of someone else running your business in your establishment. Registration takes place where the contract is concluded. A. ) There is a fundamental difference between a vacation and license agreement and a business agreement. Vacations and licenses are just like rental agreements, for which you can rent/sell/charge/rent part of it or in full. However, a business agreement can be anything related to the transaction. Like the statutes to run a business, the agreement on how the business is to let someone else manage your affairs, assign your property to someone else to manage their affairs, and agree on certain conditions on how that transaction works. ETC. Registration takes place where the contract is performed….