Ramdin v Pillay and others (2291/2007)
Ramdin v Pillay and others (2291/2007) [2007] ZAKZHC 14; 2008 (3) SA 19 (D); (28 November 2007)
The court found that the defendants were not mere stakeholders but acted as agents under a mandate to invest the plaintiff's funds. Upon the plaintiff's demand for repayment in April 2002, the mandate was terminated and the debt became due. From that moment, prescription began to run under the Prescription Act. As the summons was served more than three years after the debt became due, the plaintiff's claim had prescribed. The admission in the stated case that the plaintiff remained the owner of the funds was a mistake of law and did not bind the court. The legal relationship was one of agency…
Source excerpt
- Prescription Act
- Attorneys Trust Account
- Mandate
- Debt Due
- Stakeholder Vs Agent