Fourie v Geyer (MKP27/2018) [2019] ZANWHC 42 (22 August 2019)
Thursday, 30 April 2020
BACKGROUND Last year, the High Court of South Africa, North West Division, Mafikeng (the “Court”), was tasked to consider an application for the payment of an amount of R1 303 120.05 plus interest thereon in terms of an acknowledgement of debt (the “AOD”) concluded between friends in or during August 2015. The applicant launched an
- Published in 2020, National Credit Act
No Comments
BODY CORPORATES LOANS
Thursday, 28 November 2019
INTRODUCTION Many owners living in sectional title schemes fail to pay their levies on time or at all and management contracts. Management contracts (which are contracts that deal with the obligations and duties of the managing agent as prescribed by the Sectional Titles Act 95 of 1986 (“the STA”)and the Sectional Titles Schemes Management Act 8
- Published in 2019, Loan Agreement
National Credit Regulator v Standard Bank of South Africa LTD and South African Human Rights Commission.
Monday, 12 August 2019
SUMMARY In casu, the issue for the court’s determination was whether sections 90(2)(n) and 124 of the National Credit Act, 34 of 2005, (“the NCA”) render the common law right of set-off inapplicable in respect of credit agreements that are subject to the NCA. The common law right of set off allows one debt
- Published in 2019, National Credit Act, News
Ratlou v MAN Financial Services (1309/2017) [2019] ZASCA 49
Monday, 15 July 2019
SUMMARY During 2013 Mr Ratlou (“Ratlou”) acquired Phapo Nkone Transport (Pty) Ltd (“PNT”) together with its business. Subsequently, on 24 October 2013, he executed a deed of suretyship in favour of MAN Financial Services SA (Pty) Ltd (“MAN”) to secure a lease agreement between MAN and PNT relating to the lease of trucks and trailers.
- Published in 2019, Contracts, Credit Regulation, News, Procedural law
SHAW & ANOTHER V MACKINTOSH & ANOTHER (267/17) [2018] ZASCA 53 (29 MARCH 2018)
Tuesday, 14 May 2019
SUMMARY During 2009, Mackintosh (“the First Respondent”) and Mabili Search & Selection (Pty) Ltd (“the Second Respondent”) concluded an oral loan agreement for the amount of R2million (“the Agreement”). Subsequent to the conclusion of the Agreement, the parties signed a written acknowledgement of debt (“AOD”) wherein the Second Respondent, as the debtor, acknowledged its indebtedness
- Published in 2019, Contract Law, News
Mostert and Others v Firstrand Bank t/a RMB Private Bank and Another (198/2017) [2018] ZASCA 54 (11 April 2018)
Friday, 25 May 2018
SUMMARY This appeal concerned section 129(3) of the National Credit Act (the NCA) and whether a default in a credit agreement can be remedied by payments made by a third party and not by, or on behalf of, the consumer itself. The First Respondent, Firstrand Bank Limited t/a RMB Private Bank (RMB), advanced R30 million
- Published in News, 2018, Contract Law
