Harmony Gold Mining Company Bpk v Xuma (2390/2011)
Harmony Gold Mining Company Bpk v Xuma (2390/2011) [2012] ZAFSHC 95 (10 May 2012)
The court held that the appellant's claim had not prescribed by the time summons was served. The contract required written demand and a five-day grace period before the debt became due and payable under the acceleration clause. The appellant made written demand on 8 October 2009, and the respondent failed to pay within the stipulated period. Prescription therefore commenced only after the expiry of the grace period following the written demand, not when the first payment was missed. The court found that the respondent's argument, relying on case law under the previous prescription legislation…
Source excerpt
- Extinctive Prescription
- Acceleration Clause
- Condonation
- Special Plea
- Contractual Debt
- Written Demand