Fortein N.O. v Iprop Trading CC (A70/2023)
Fortein N.O. v Iprop Trading CC (A70/2023) [2024] ZAFSHC 170 (17 May 2024)
The court held that payment into a fraudulent bank account, resulting from business email compromise, does not extinguish the purchaser's obligation to pay the seller. The duty to verify the correctness of banking details before making payment rests on the debtor, not the creditor. The respondent failed to take reasonable steps to confirm the banking details, acting at its own peril. The appellant was not proven to have owed a higher duty of care due to professional status, and the evidence did not establish that the contractual term requiring payment into the Standard Bank account was common…
Source excerpt
- Business Email Compromise
- Duty Of Care
- Payment Verification
- Cybercrime Liability
- Contractual Performance
- Negligence