September 6, 2017
Published by VDHadmin at September 6, 2017
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Do my debts last forever?

Do my debts last forever? What does prescription mean? The Prescription Act 68 of 1969 (PA) says that a debt (payment of money) is extinguished/expired after the lapse (passing) of a specific time period. South Africa has different laws which specify time periods, for example, the PA says contractual and delictual debts extinguish after 3 […]
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June 14, 2016
Published by VDHadmin at June 14, 2016
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What is meant by real security?

What is meant by real security? Real security means that, on the basis of a creditor’s right against the debtor (principal debt), a creditor acquires a limited real right in the property of the debtor as security for the payment of the creditor’s right (principal debt) by the debtor. Real security differs from personal security […]
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April 12, 2016
Published by VDHadmin at April 12, 2016
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Standard acknowledgements of debt and the National Credit Act (NCA)

Standard acknowledgements of debt and the National Credit Act (NCA) The new NCA does not only regulate instalment sale agreements and lease agreements in respect of movables as was done by its predecessor, the repealed Credit Agreements Act 75 of 1980. The NCA also applies to a much wider variety of credit agreements and has […]
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April 12, 2016
Published by VDHadmin at April 12, 2016
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The Credit agreement

The Credit agreement If you default on a credit agreement and action is taken against you by the credit provider, you still have time, according to Section 129(3)(b) read with 129(3)(a) and S129(4) of the National Credit Act (“NCA”)[1] as well as the case of Firstrand Bank Limited v Nomsa Nkata[2] to re-instate the credit […]
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