Vlok v Silver Crest Trading 154 (Pty) Ltd and Others (A65/2014)
Vlok v Silver Crest Trading 154 (Pty) Ltd and Others (A65/2014) [2015] ZAFSHC 82 (23 April 2015)
The court found that the appellant, after learning of the bank's refusal to honour the guarantee, elected to uphold the sale agreement by entering into an addendum, opposing Engen's application for retransfer, and demanding payment. This conduct constituted an unequivocal election to maintain the contract, thereby abandoning any right to cancel for the original breach. The appellant's subsequent attempts to cancel were ineffective, as he failed to place the first respondent in mora ex persona with a clear and unequivocal notice of cancellation. The buy-back agreement was conceded to be invali…
Source excerpt
- Specific Performance
- Contract Cancellation
- Transfer Of Property
- Company Law Compliance
- Repudiation
- Mora Ex Persona