Jurie Wynand Van Dyk t/a Van Dyks Property Brokers v M3T Developments (Pty) Ltd (1478/2023)
Jurie Wynand Van Dyk t/a Van Dyks Property Brokers v M3T Developments (Pty) Ltd (1478/2023) [2024] ZAWCHC 219 (23 August 2024)
The court found that the plaintiff did not act as a financial services provider within the meaning of the FAIS Act. His role was limited to introducing the defendant to potential financiers and did not involve furnishing advice or intermediary services in respect of a financial product as defined by the Act. The loan agreement facilitated was not a financial product under the FAIS Act, and the plaintiff did not provide recommendations or proposals of a financial nature regarding such a product. The exception based on the alleged contravention of the FAIS Act was therefore without merit. The v…
Source excerpt
- Financial Advisory And Intermediary Services Act
- Exception To Pleadings
- Void Contract
- Brokerage Agreement