Absa Technology Finance Solutions Limited v Rocbit Drilling Equipment (Pty) Ltd and Others (13062/16)
Absa Technology Finance Solutions Limited v Rocbit Drilling Equipment (Pty) Ltd and Others (13062/16) [2017] ZAGPJHC 269 (19 September 2017)
The court found that ABSA proved the cession of rights under the rental agreement from Itec Finance, supported by documentary evidence and payment. Delivery of the photocopy machine was established by the signed rental agreement and corroborating documents, and the anomaly in the delivery note did not displace the evidence of delivery. The certificate issued by ABSA's manager was valid proof of the principal debt, as the cession entitled ABSA to exercise all rights of Itec Finance, including issuing certificates of indebtedness. The sureties were bound by the certificate clause because the re…
Source excerpt
- Cession Of Contractual Rights
- Suretyship Liability
- Proof By Certificate
- Breach Of Contract
- Quantification Of Debt