Tsie v Brenner and Others (4783-2020)
Tsie v Brenner and Others (4783-2020) [2024] ZAGPJHC 257 (18 March 2024)
The court held that the applicant's claim for transfer of the membership interest in Crest Car Hire CC was a claim for specific performance of a contractual obligation and thus constituted a 'debt' under the Prescription Act. The debt became due on 1 August 2012, the effective date of the sale agreement, and prescription commenced from that date. The applicant failed to interrupt prescription against Crest Car Hire CC within the three-year period, and service on the executors did not suffice due to the separate juristic personality of the corporation. The applicant's reliance on section 12(2)…
Source excerpt
- Extinctive Prescription
- Specific Performance
- Close Corporation Membership
- Sale Of Business Agreement