Firstrand Bank Limited v Ramokgadi and Others (296/02)
Firstrand Bank Limited v Ramokgadi and Others (296/02) [2003] ZANWHC 60 (10 October 2003)
The court found that the sale in execution was invalid due to non-compliance with the mandatory requirements of Rule 46 of the Uniform Rules of Court. The advertisement of the sale in the Government Gazette did not occur within the prescribed two-week period, and the applicant, as a preferent creditor and mortgagee, was not given the required notices. The respondent's explanation for non-compliance was insufficient, and condonation was refused. The court held that the procedural defects were fatal to the validity of the sale, and the applicant's interests were prejudiced as the sale price did…
Source excerpt
- Sale In Execution
- Preferent Creditor
- Mortgagee Notice
- Rule 46 Compliance
- Condonation
- Advertisement Requirements