South Africa Case Law

Firstrand Bank Limited v Rampersad and Another (14063/2018P)

Firstrand Bank Limited v Rampersad and Another (14063/2018P) [2024] ZAKZPHC 81 (18 September 2024)

Court

Kwazulu-Natal High Court, Pietermaritzburg

Case number

14063/2018P

Judge

P C Bezuidenhout

The court found that Applicant failed to make out a case for reinstatement of the cancelled credit agreement, as no consensus or fresh meeting of the minds was established between the parties. The requirements of Rule 42 were not met, as there was no error, ambiguity, or common mistake in the original order, nor were there new facts justifying variation. The monthly payment of R11 500.00 was found to be insufficient given the increased arrears and interest, but the draft order proposed by Applicant was inappropriate and unsupported by the papers. The court determined that a just and equitable…

Source excerpt

• Variation Of Court Order
• Default Judgment
• Credit Agreement Cancellation
• Rule 42
• Sale In Execution

Tereblanche v MQ Finance (Pty) Ltd ta Marquis Finance (NCT/313391/2024/141(1)(b))

Tereblanche v MQ Finance (Pty) Ltd ta Marquis Finance (NCT/313391/2024/141(1)(b)) [2024] ZANCT 32 (3 September 2024)

Court

National Consumer Tribunal

Case number

NCT/313391/2024/141(1)(b)

Judges

Z Ntuli, MC Peenze, C Sassman

The Tribunal found reckless credit granting under the NCA, cancelled the vehicle finance agreement, and imposed a R100,000 administrative fine.

• Reckless Credit Granting
• Affordability Assessment
• Administrative Fine
• Consumer Protection
• Credit Agreement Cancellation
• Reckless-credit-granting

Nkoenyane v ABSA Bank Limited (50924/2021)

Nkoenyane v ABSA Bank Limited (50924/2021) [2024] ZAGPJHC 804 (15 August 2024)

Court

South Gauteng High Court, Johannesburg

Case number

50924/2021

Judge

TP Mudau

The High Court dismissed a rescission application, holding that service at the chosen domicilium was valid, the summons was properly signed, and no bona fide defence was shown.

• Rescission Of Judgment
• Service Of Process
• Domicilium Citandi
• Credit Agreement Cancellation
• Default Judgment
• Rescission-of-judgment

Standard Bank of South Africa Limited v DT Jordan Carries (Pty) Limited (M14/19)

Standard Bank of South Africa Limited v DT Jordan Carries (Pty) Limited (M14/19) [2020] ZANWHC 89 (21 December 2020)

Court

North West High Court, Mafikeng

Case number

M14/19

Judge

M M Leeuw

The High Court dismissed Standard Bank’s application to confirm cancellation of an instalment sale agreement, finding the bank had not filed a current certificate of balance.

• Instalment Sale Agreement
• Credit Agreement Cancellation
• Certificate Of Balance
• Company Exclusion From Nca
• Instalment-sale-agreement
• Certificate-of-balance

Khohko v Nedbank Limited (4076/2016)

Khohko v Nedbank Limited (4076/2016) [2016] ZAFSHC 208 (8 December 2016)

Court

Free State High Court, Bloemfontein

Case number

4076/2016

Judge

L J Lekale

The High Court granted rescission after finding the summons was issued too early under section 129 of the National Credit Act.

• National Credit Act
• Rescission Of Judgment
• Section 129 Notice
• Premature Summons
• Credit Agreement Cancellation
• National-credit-act

Wesbank v Safter (15177/2011)

Wesbank v Safter (15177/2011) [2011] ZAWCHC 459 (14 October 2011)

Court

Western Cape High Court, Cape Town

Case number

15177/2011

Judge

Eloff

The High Court granted summary judgment to Wesbank after finding that the defendant disclosed no bona fide defence and that later payment did not reinstate the cancelled agreement.

• Summary Judgment
• Credit Agreement Cancellation
• National Credit Act
• Debt Review
• Reinstatement Of Contract
• Summary-judgment

SA Taxi Securitisation (Pty) Ltd v Sima (49779/2010)

SA Taxi Securitisation (Pty) Ltd v Sima (49779/2010) [2011] ZAGPJHC 111 (13 September 2011)

Court

South Gauteng High Court, Johannesburg

Case number

49779/2010

Judge

NF Kgomo

The court found that the applicant had complied with both statutory and contractual requirements for cancellation of the credit agreement and termination of debt review. The applicant gave proper notice in terms of section 86(10) of the National Credit Act by sending registered mail to the respondent's chosen address, and actual receipt was not required. The respondent's points in limine were dismissed as unsubstantiated and lacking merit. The application itself constituted a formal election to cancel the agreement, and the applicant was entitled to repossess the vehicle and seek further reli…

Source excerpt

• Credit Agreement Cancellation
• National Credit Act
• Debt Review Termination
• Repossession Of Vehicle
• Default And Breach
• Notice Requirements