This blog was co-authored by Adrienne Hendricks, Trainee Associate and Adriaan Lourens, Candidate Attorney.
The Supreme Court of Appeal recently reaffirmed the principle that a contracting party exercising unilateral discretion must do so in good faith, with reasonable judgment, and without arbitrariness (the arbitrio boni viri principle).
A major retail franchisor and its franchisee entered
This blog was co-authored by Yuveshen Naidoo, Candidate Attorney.
On 23 December 2024, the Financial Services Tribunal upheld an FSP’s decision to debar its representative in terms of section 14(1) of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) for breaching the “fit and proper” requirements under the FAIS Act. In
This blog is co-authored by Hannah Howell, candidate attorney.
In October 2024 the high court dismissed the defence of reckless lending contemplated in Section 81(2) of the National Credit Act, 2005 (the NCA) because the creditor under the indemnity was not a credit provider under the Act.
The applicant and the bank concluded a home
This blog was co-authored by Yuveshen Naidoo, Candidate Attorney.
On 26 September 2024, the Financial Services Tribunal dismissed an application for reconsideration of a bank’s decision to debar its former risk advisor. The applicant was found guilty of misconduct and summarily dismissed for sharing confidential client information with a competitor and debarred. The question before
In a judgment delivered on 25 November 2024, the High Court of South Africa, Gauteng Local Division, Johannesburg declared a series of transactions involving Dimension Data Facilities (Pty) Ltd (Dimension Data Facilities) and Identity Property Co (Pty) Ltd (Identity PropCo) void and invalid. This case is poised to become a significant
In the ever-evolving landscape of financial regulation, the Financial Sector Conduct Authority and the Prudential Authority have introduced two pivotal standards aimed at enhancing the robustness of financial institutions’ IT frameworks. These are the Joint Standard 1 of 2023 – IT Governance and Risk Management Requirements, published in November 2023, and the Joint Standard
The prescribed rate of interest is 11.50% per annum with effect from 1 November 2024. The previous rate was 11.75% per annum.
According to the Prescribed Rate of Interest Act, interest on debts where no rate is prescribed is calculated at the repo rate plus 3.5%. The prescribed rate of interest applies to all debts
This blog was co-authored by Hannah Howell, Candidate Attorney.
The High Court handed down a judgment on 7 October 2024 which spotlighted that an instalment sale credit provider under the National Credit Act (NCA) must prove that the repossessed goods have been sold at the best reasonably obtainable price and may not just get summary
This blog post was co-authored by Adrienne Hendricks, Candidate Attorney.
In a September 2024 decision of the high court, a bank brought a claim based on two certificates of balance against a surety, who had bound himself as surety for all debts owed by the debtor under an overdraft facility agreement with the bank.
The
This blog was co-authored with Adrienne Hendricks, Candidate Attorney.
In April 2024 the Supreme Court of Appeal (SCA) dismissed the bank’s appeal from the High Court, finding that the bank was not entitled to enforce a guarantee where the bank had failed to perform its own obligation to increase the facility under the original