Tarentaal Centre Investments (Pty) Ltd v Beneficio Developments (15/2025)
Tarentaal Centre Investments (Pty) Ltd v Beneficio Developments (15/2025) [2025] ZASCA 38 (8 April 2025)
The Supreme Court of Appeal held that the applicants failed to discharge the onus of proving that the interest rate charged under the loan agreements was usurious in the sense of extortion, oppression, or fraud. The agreements were bona fide commercial transactions, voluntarily concluded after negotiations between sophisticated parties, and the interest rate was consistent with industry norms for short-term bridging finance. The applicants did not present evidence of exceptional circumstances or reasonable prospects of success on appeal. The court reaffirmed the common law test for usurious t…
Source excerpt
- Usurious Transactions
- Public Policy In Contracts
- Interest Rate Enforcement
- Leave To Appeal Requirements