Debt collection for beginners
Taking legal action: initiating process
Recovering outstanding amounts can be done effectively through various debt collection mechanisms.
Drafting and dispatching a letter of demand has become a...
Tag: Acknowledgment of Debt (AOD)
Drafting loan agreements in consideration of the National Credit Act
IMPORTANT CONSIDERATIONS
Mr X wants to finance a law tech start-up started by his son’s friend currently studying computer engineering at the University of Pretoria. Your client (Mr X) sends you an instruction to draw up a loan agreement for a transaction.
The instruction…
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As the country moves into a time of unprecedented economic and social uncertainty, small businesses in South Africa are under increasing pressure to ensure that their legal documentation…
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Can a consumer “contract out” of a right to receive a pre-termination notice?
Introduction
Our offices have taken note of an alarming increase in the number of SMS’s sent to clients by the City of Johannesburg Metropolitan Municipality (“COJ”)...
Is an acknowledgment of debt regulated by the National Credit Act?
The purpose of the National Credit Act, No.34 of 2005 (“NCA”) is to promote a fair and non-discriminatory marketplace for access to consumer credit and...
Prescription of claims: On-demand loans
A loan which is repayable on demand becomes due the moment it is advanced to the debtor. Accordingly, such a debt will prescribe (or be...
Mutual separation agreements: Caveat subscriptor
In many cases, and for various reasons, an employer and employee will choose to conclude a mutual separation agreement, bringing to an end an employment...
