South Africa Case Law

Global & Local Investments Advisors (Pty) Ltd v Fouche (71/2019)

Global & Local Investments Advisors (Pty) Ltd v Fouche (71/2019) [2020] ZASCA 8; 2021 (1) SA 371 (SCA) (18 March 2020)

Court

Supreme Court of Appeal

Case number

71/2019

Judges

Navsa, Saldulker, Makgoka, Nicholls, Mojapelo

The Supreme Court of Appeal held that the mandate required instructions to bear the signature of Mr Fouché for authentication and verification purposes. The court found that the typewritten name 'Nick' at the end of the emails did not satisfy the signature requirement, as the parties had not agreed to accept electronic signatures under section 13(3) of the Electronic Communications and Transactions Act. The emails in question were fraudulent and not sent by Mr Fouché, and the absence of a proper signature rendered the instructions invalid. Global acted contrary to the mandate by releasing fun…

Source excerpt

• Mandate Breach
• Electronic Signature
• Fraudulent Instructions
• Financial Services Liability