Incredible Sand (Pty) Ltd v Vos (2376/2018)
Incredible Sand (Pty) Ltd v Vos (2376/2018) [2018] ZAGPPHC 698 (28 September 2018)
The court found that the suretyship agreement, although not expressly naming the principal debtor, sufficiently incorporated the acknowledgement of debt by reference. The acknowledgement of debt was signed on the same day and at the same meeting as the suretyship agreement, and it clearly identified Bucon Development and Construction (Pty) Ltd as the debtor. The court accepted that incorporation by reference is permissible and that the requirements of section 6 of the General Law Amendment Act were met. Consequently, the applicant established locus standi as a creditor of the respondent, who…
Source excerpt
- Provisional Sequestration
- Suretyship
- Incorporation By Reference
- General Law Amendment Act Compliance