National Credit Regulator v Triple Advanced Investments 40 (Pty) Ltd (NCT/35431/2015/140(1)) [2017] ZANCT 84 (10 July 2017)
- Citation
- [2017] ZANCT 84
- Status
- Order
- Jurisdiction
- South Africa
- Court
- National Consumer Tribunal
- Panel
- J Simpson, H Devraj, P Beck
- Case number
- NCT/35431/2015/140(1)
More details
- Court
- National Consumer Tribunal
- Panel
- J Simpson, H Devraj, P Beck
- Case number
- NCT/35431/2015/140(1)
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
The Tribunal found that both parties had signed the settlement agreement through duly authorised representatives and that both parties confirmed the correction of a typographical error in the signature block. There was no dispute regarding the validity or enforceability of the agreement. The Tribunal was satisfied that the requirements for making the settlement agreement an order of the Tribunal were met. Accordingly, the signed settlement agreement was made an order of the Tribunal.
Court disposition
The signed settlement agreement is made an order of the Tribunal. No order as to costs.
Orders
- The signed settlement agreement attached as Annexure 'A' is made an order of the Tribunal.
- No order is made as to costs.
02
Material facts
Parties
National Credit Regulator
Applicant Counsel: Ms J PietersTriple Advanced Investments 40 (Pty) Ltd
Respondent Counsel: Mr A Van Den Bout03
Procedural history
Posture
Settlement Agreement / Order Granted on Settlement
04
Questions and positions
Legal issues
- 01
Whether the signed settlement agreement between the parties should be made an order of the Tribunal.
- 02
Whether the signatures on the agreement were duly authorised and correctly attributed.
Party arguments
- Applicant
- The Applicant submitted a signed settlement agreement and confirmed that it was executed by its duly authorised Manager of investigations, Ms J Pieters. The Applicant clarified that a typographical error beneath its signature should read 'For and behalf of the Applicant' instead of 'For and on behalf of the Respondent'. The Applicant requested that the agreement be made an order of the Tribunal.
- Respondent
- The Respondent, represented by attorney Mr A Van Den Bout, confirmed that he signed the settlement agreement on behalf of the Respondent, as duly authorised by its Directors. The Respondent concurred with the Applicant regarding the typographical error and supported the request for the agreement to be made an order of the Tribunal.
05
Court’s reasoning
Legal principles
- 01
National Credit Act, 34 of 2005
A settlement agreement signed by duly authorised representatives of both parties may be made an order of the Tribunal if both parties consent and the agreement is valid.
- 02
General principles of contract law
Typographical errors in the signature block do not invalidate the substance of the agreement if the parties confirm the correct attribution and intention.
06
Ratio, limits and disposition
Ratio decidendi
The Tribunal found that both parties had signed the settlement agreement through duly authorised representatives and that both parties confirmed the correction of a typographical error in the signature block. There was no dispute regarding the validity or enforceability of the agreement. The Tribunal was satisfied that the requirements for making the settlement agreement an order of the Tribunal were met. Accordingly, the signed settlement agreement was made an order of the Tribunal.
Obiter and limits
- No order is made as to costs.
- The Tribunal notes the importance of clarity in the execution of settlement agreements, especially regarding the correct attribution of signatures.
Court disposition
The signed settlement agreement is made an order of the Tribunal. No order as to costs.
- The signed settlement agreement attached as Annexure 'A' is made an order of the Tribunal.
- No order is made as to costs.
Source and reliance status
National Consumer Tribunal
This page organises the available record for research. Confirm quotations, current status, and subsequent treatment against the official source before relying on the case.
Judgment reading view
Judgment text
The complete available source text.
National Consumer Tribunal
Order
IN
THE NATIONAL CONSUMER TRIBUNAL
HELD
IN CENTURION
Case number: NCT/35431/2015/140(1)
In the matter between:
THE
NATIONAL CREDIT
REGULATOR
APPLICANT
and
TRIPLE ADVANCED INVESTMENTS 40 (PTY) LTD
RESPONDENT
Coram:
Adv J Simpson -
Presiding Member
Ms. H Devraj - Member
Ms. P Beck - Member
Date of Hearing – 10 July 2017
SETTLEMENT
AGREEMENT
1. The parties appeared before the Tribunal on 10 July 2017.
2. The parties submitted a signed settlement agreement and requested that it be made an order of the Tribunal.
3. The Applicant confirmed that the agreement was signed by its duly authorised Manager of investigations, Ms J Pieters.
4. The attorney appearing for the Respondent, Mr A Van Den Bout, confirmed that he signed the settlement agreement on behalf of the Respondent, as duly authorised by the Directors of the Respondent.
5. The parties both confirmed that the phrase beneath the Applicant’s signature stating “NATIONAL CREDIT REGULATOR For and on behalf of the Respondent” contains a typographical error and should in fact state “For and behalf of the Applicant”.
6. The signed settlement agreement, attached as Annexure “A”, is hereby made an order of the Tribunal.
No order is made as to costs.
DATED 10 JULY 2017
[signed]
Adv. J Simpson
Presiding Member
Ms. H Devraj (member) and Ms. P Beck (member) concurring.
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