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


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
SUMMARY Each of the four Applicants, respectively, had entered into various credit agreements in terms of the National Credit Act (“NCA”). Subsequent thereto, the Applicants were unable to make payment of their respective liabilities and the Applicants’ only realisable assets consisted of moveable assets with minimal value. As such, they applied for the voluntary surrender
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