Nedbank Ltd v Sqaure Metre Development (Pty) Ltd and Others (28031/09) [2009] ZAGPPHC 280 (6 August 2009)

Nedbank Ltd v Sqaure Metre Development (Pty) Ltd and Others (28031/09) [2009] ZAGPPHC 280 (6 August 2009)

The court found that the National Credit Act does not apply to the loan agreement as it is a large agreement with a juristic person whose asset value exceeds the statutory threshold. The amount claimed is liquidated, being ascertainable by a certificate of balance, and the defendants failed to identify or quantify any payments that would constitute a defence. The deeds of suretyship are sufficiently broad to cover the account sued upon and comply with section 6 of the General Law Amendment Act. The defendants did not raise a bona fide defence, and summary judgment is warranted.

Citation
[2009] ZAGPPHC 280
Parties
Plaintiff: Nedbank Limited; Defendant: Square Metre Development (Pty) Ltd; Defendant: Margarethe van Rensburg; Defendant: Brent van Rensburg; Defendant: Mandie Jansen
Court
North Gauteng High Court, Pretoria
Jurisdiction
South Africa
Judgment Date
6 August 2009
Case Number
28031/09
Procedural Posture
Summary Judgment Application / Application for Summary Judgment After Defendants Entered Appearance to Defend.
Outcome
Summary judgment granted in favour of the plaintiff against all defendants, jointly and severally.
Judges
P. Ellis
Legal Topics
National Credit Act Exclusion, Liquidated Claims, Suretyship Requirements, Mortgage Bond Enforcement
Banking and Finance Civil Procedure National Credit Act Exclusion Liquidated Claims Suretyship Requirements Mortgage Bond Enforcement

Case Brief

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Parties

Nedbank Limited

Plaintiff

Square Metre Development (Pty) Ltd

Defendant

Margarethe van Rensburg

Defendant

Brent van Rensburg

Defendant

Mandie Jansen

Defendant

Procedural Posture

Summary Judgment Application / Application for Summary Judgment After Defendants Entered Appearance to Defend.

Legal Issues

  1. 1 Whether the National Credit Act applies to the loan agreement in question.
  2. 2 Whether the amount claimed is liquidated for purposes of summary judgment.
  3. 3 Whether the deeds of suretyship comply with section 6 of the General Law Amendment Act.

Ratio Decidendi

The court found that the National Credit Act does not apply to the loan agreement as it is a large agreement with a juristic person whose asset value exceeds the statutory threshold. The amount claimed is liquidated, being ascertainable by a certificate of balance, and the defendants failed to identify or quantify any payments that would constitute a defence. The deeds of suretyship are sufficiently broad to cover the account sued upon and comply with section 6 of the General Law Amendment Act. The defendants did not raise a bona fide defence, and summary judgment is warranted.

Court Disposition

Summary judgment granted in favour of the plaintiff against all defendants, jointly and severally.

Orders

  • Payment of the amount of R718 309.39.
  • Interest on the aforesaid amount at the rate of 14.15% per annum calculated daily from 2 January 2009 to date of payment.