Nedbank Limited v Pheto (43927/2020)
Nedbank Limited v Pheto (43927/2020) [2023] ZAGPPHC 1162 (6 September 2023)
The court found that the respondent paid R150,000 towards the arrears following a section 129 notice, which included legal fees in the calculation. The applicant failed to provide due notice to the respondent regarding the nature and extent of legal costs prior to the payment. The legal costs were neither agreed nor taxed, and the respondent was not placed in a position to determine their reasonableness. Applying the Constitutional Court's decision in Nkata, the agreement was reinstated by operation of law when the respondent paid the arrears, even though legal costs were not paid. The applic…
Source excerpt
- National Credit Act
- Reinstatement Of Credit Agreement
- Section 129 Notice
- Default Judgment
- Legal Costs
- Consumer Protection