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South Africa decisions
Decisions matching the current search
Standard Bank of South Africa Limited v Friedman (21244/2023) [2024] ZAWCHC 49; 2024 (3) SA 171 (WCC) (20 February 2024)
The court granted Standard Bank judgment against Friedman under a principal guarantee, holding that acceleration and cancellation could be exercised simultaneously.
Smith v Absa Bank Limited (A892/2014) [2015] ZAGPPHC 486 (1 July 2015)
The court found that, although the trust deed prescribed a minimum of three trustees, it also empowered two trustees to act and bind the trust estate provided their decisions were unanimous. The power to conclude the instalment sale agreements was not restricted to situations where three trustees were in office. However, the agreements were not signed by both trustees, and there was no evidence that Mr Smith was authorised by the appellant to act on her behalf or that decisions to conclude the agreements were taken unanimously. The bank failed to establish Mr Smith's authority or ostensible a…
Source excerpt
Smith v ABSA Bank Limited (A892/2014) [2015] ZAGPPHC 409 (30 June 2015)
The court held that the trust deed allowed two unanimous trustees to bind the trust, but the bank failed to prove Mr Smith’s authority. The appeal succeeded.
Absa Bank Limited v Silver and Another (4984/2010) [2015] ZAGPPHC 392 (29 May 2015)
The High Court granted absolution after Absa failed to prove the principal debt agreements secured by covering bonds or establish default.
Johannesburg Development Agency (Pty) Ltd v Federated Insurance Guarantees Brokers (Pty) Ltd (6647/06) [2007] ZAKZHC 57 (30 April 2007)
The court held that a construction guarantee was a principal obligation, triggered by a compliant demand after cancellation, and ordered payment.
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