Ten women from Lamberts Bay, the appellants, held equal members’ interests in a close corporation, Meermin Viserye CC, whose main asset was a small pelagic fishing quota granted under the Marine Living Resources Act 18 of 1998. Lacking vessels and processing facilities, they agreed in July 2012 to sell their members’ interests to the first and second respondents for R4 million, payable upon issue of the 2013 fishing permit. An addendum in November 2012 amended the payment terms to monthly instalments because the appellants required income. Although the written addendum provided for R50 000 monthly payments, the parties orally agreed to smaller payments over a longer period, which the appellants accepted. By early 2014 approximately 96% of the purchase price had been paid, with only R160 000 outstanding. The appellants nonetheless sought cancellation of the sale, alleging breach for non-payment and contending that ministerial approval was a condition precedent. The High Court on appeal held cancellation unjustified, leading to the present appeal before the Supreme Court of Appeal.