Symes N.O and Another v Stuart Van der Merwe Inc and Others (24400/2015)
Symes N.O and Another v Stuart Van der Merwe Inc and Others (24400/2015) [2018] ZAGPPHC 885 (17 May 2018)
Prescription did not commence the day after the payments were made, as the plaintiffs only became aware of the payments and the identity of the debtor after conducting the insolvency enquiry on 13 March 2014. Section 12(3) of the Prescription Act requires actual or deemed knowledge before prescription begins. Furthermore, civil proceedings were suspended until the appointment of the liquidators on 3 August 2013, so prescription could not run before that date. The defendants' argument that prescription began immediately after payment is incorrect, as it disregards the statutory requirements fo…
Source excerpt
- Prescription Act
- Liquidation Proceedings
- Court Order Contravention
- Knowledge Of Debt
- Commencement Of Prescription