Vela v Rainbow Shuttle Services CC and Another (26955/14)
Vela v Rainbow Shuttle Services CC and Another (26955/14) [2014] ZAGPJHC 359 (3 December 2014)
The court found that the acknowledgment of debt signed by the defendants met all the requirements of Section 87 of the Bills of Exchange Act and thus constituted a promissory note. However, the plaintiff failed to produce the original liquid document as required by the practice manual and did not provide a satisfactory explanation for its absence. The court was not placed in a position to exercise its discretion to condone non-production, as no evidence was presented as to why the original was unavailable. The plain interpretation of Section 68 of the Act prohibits the granting of provisional…
Source excerpt
- Acknowledgment Of Debt
- Provisional Sentence
- Promissory Note
- Non Production Of Original Document
- Bills Of Exchange Act
- Interest Calculation