Venter NO en 'n Ander v Carels (634/94)
Venter NO en 'n Ander v Carels (634/94) [1996] ZASCA 52 (23 May 1996)
The Supreme Court of Appeal held that section 84(1) of the Insolvency Act applies even where the insolvent is not in possession of the movable property at the time of sequestration. The conflicting authorities were resolved by the court's own prior decision in Venter NO v Avfin (Pty) Ltd, which confirmed that the seller's rights are protected and a silent hypothec is created for the outstanding purchase price. The respondent's reliance on UDC Bank Ltd v Seacat Leasing and Finance Co (Pty) Ltd and Another was misplaced, as that reasoning has been expressly rejected. The respondent's additional…
Source excerpt
- Insolvency Act Section 84
- Ownership Transfer
- Silent Hypothec
- Delivery Of Property