Aircraft Asset Finance Corporation (Pty) Limited v Deymine (Pty) Limited and Others (114305/2023)
Aircraft Asset Finance Corporation (Pty) Limited v Deymine (Pty) Limited and Others (114305/2023) [2025] ZAGPJHC 125 (12 February 2025)
The court found that the respondents, by executing the deeds of suretyship, bound themselves as co-principal debtors for the first respondent's obligations under the master lease agreements. The respondents' defences were rejected as they failed to provide sufficient factual detail to establish a bona fide dispute regarding the amount claimed, and their denial was considered a bare denial. The respondents' argument that they did not intend to be bound by the deeds of surety was dismissed, as South African law holds that a person who signs a contract is bound by its terms unless fraud or misre…
Source excerpt
- Suretyship
- Enforcement Of Debt
- Waiver Of Exceptions
- Authority To Institute Proceedings
- Company Liquidation