Grainco (Pty) Ltd v Broodryk NO and Others (1300/2009)
Grainco (Pty) Ltd v Broodryk NO and Others (1300/2009) [2009] ZAFSHC 143; 2012 (4) SA 517 (FB) (18 June 2009)
The court found that the acknowledgment of debt was sufficiently liquid for the capital amount of R359,638.13, as it constituted an unequivocal admission of liability by the trust, and the certificate mechanism provided prima facie proof of the outstanding balance. However, the interest component was not readily ascertainable without external evidence, and thus provisional sentence could not be granted for interest. The court accepted that the first defendant had general authority from the second defendant to act on behalf of the trust, based on longstanding conduct and the nature of the trus…
Source excerpt
- Provisional Sentence
- Liquid Document
- Trustee Authority
- National Credit Act
- Holder In Due Course
- Personal Defence On Cheque