South Africa Case Law

Smith v Absa Bank Limited (A892/2014)

Smith v Absa Bank Limited (A892/2014) [2015] ZAGPPHC 486 (1 July 2015)

Court

North Gauteng High Court, Pretoria

Case number

A892/2014

Judges

PA Meyer, Sam Mbaqwa, C Pretorius

The court found that, although the trust deed prescribed a minimum of three trustees, it also empowered two trustees to act and bind the trust estate provided their decisions were unanimous. The power to conclude the instalment sale agreements was not restricted to situations where three trustees were in office. However, the agreements were not signed by both trustees, and there was no evidence that Mr Smith was authorised by the appellant to act on her behalf or that decisions to conclude the agreements were taken unanimously. The bank failed to establish Mr Smith's authority or ostensible a…

Source excerpt

• Suretyship
• Trustee Authority
• Trust Capacity
• Principal Obligation
• Accessory Liability

Smith v ABSA Bank Limited (A892/2014)

Smith v ABSA Bank Limited (A892/2014) [2015] ZAGPPHC 409 (30 June 2015)

Court

North Gauteng High Court, Pretoria

Case number

A892/2014

Judges

P.A. Meyer, A.M Baqwa, C. Pretorius

The court held that the trust deed allowed two unanimous trustees to bind the trust, but the bank failed to prove Mr Smith’s authority. The appeal succeeded.

• Suretyship
• Trustee Authority
• Trust Capacity
• Principal Obligation
• Accessory Liability
• Trust-law