Mngani Property 4 (Pty) Ltd v Irwing 514 CC (25322/09)
Mngani Property 4 (Pty) Ltd v Irwing 514 CC (25322/09) [2010] ZAGPJHC 81 (29 March 2010)
The court found that Irwing's cancellation of the agreement was valid, as Mngani failed to provide the required guarantees and payments within the reasonable time contemplated by the agreement and subsequent arrangements. The notice of default, when read in context with ongoing discussions and prior meetings, was sufficient to inform Mngani of its obligations. The applicant's claim that the cancellation amounted to repudiation was rejected as unfounded. The court postponed judgment on Mngani's claim for repayment pending the determination of Irwing's counterclaim for damages, and ordered that…
Source excerpt
- Purchase And Sale Agreement
- Contract Cancellation
- Liquidated And Unliquidated Damages
- Set Off
- Stakeholder Trust
- Rouwkoop