Nel & Others v Cilliers (197/2023)
Nel & Others v Cilliers (197/2023) [2024] ZASCA 57 (19 April 2024)
The Supreme Court of Appeal held that the appellants' pre-trial concession regarding the invalidity of D2 under the National Credit Act was binding and not withdrawn, precluding any relief under D2. The full court erred in finding D1 inchoate based on unpleaded issues and unreliable testimony; the objective facts showed D1 was neither simulated nor abandoned. D1 did not fall within the definition of a credit agreement under section 8(4) of the NCA, as no charge, fee, or interest was payable on the deferred payment. The parties' true intention was a sale of shares with deferred payment, not a…
Source excerpt
- Specific Performance
- National Credit Act
- Contract Novation
- Pre Trial Concession
- Sale Of Shares