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Credit facility. A credit facility is an agreement in terms of which a credit provider supplies goods or services, or pays an amount to the consumer. The consumer's obligation to pay the price or repay the money is deferred, in exchange for which the consumer pays interest and fees. Examples of a credit facility are credit advanced.
The Constitution of the Republic of South Africa, 1996, as the supreme law of the Republic, provides the overarching framework for civil procedure; [6] the Constitution has been responsible for significant changes to civil procedure since its inception in the 1990s, as in, for example, debt collection matters, [7] access to the courts [8] and prescription, in particular with respect to ...
Insolvency in South African law refers to a status of diminished legal capacity ( capitis diminutio) imposed by the courts on persons who are unable to pay their debts, or (which amounts to the same thing) whose liabilities exceed their assets. The insolvent's diminished legal capacity entails deprivation of certain of his important legal ...
An emoluments attachment order in South African law is a court order whereby the judgment creditor is able to attach part of the salary or wages of the judgment debtor. [1] Once an emoluments attachment order has been granted, the employer of the judgment debtor (who is referred to as the garnishee) is obliged (on a continuing basis, and until ...
Receiving a call, email or letter from a company purporting to be a debt collector can spark alarm. Before disclosing any information, look for these eight signs of a fake debt collection scam. 1 ...
Disinvestment (or divestment) from South Africa was first advocated in the 1960s in protest against South Africa's system of apartheid, but was not implemented on a significant scale until the mid-1980s. A disinvestment policy the U.S. adopted in 1986 in response to the disinvestment campaign is credited with playing a role in pressuring the ...
The bottom line. The statute of limitations on debt protects you from being sued by debt collectors after a certain amount of time has passed. However, this does not mean you no longer owe the ...
South African contract law is "essentially a modernized version of the Roman-Dutch law of contract ", [1] and is rooted in canon and Roman laws. In the broadest definition, a contract is an agreement two or more parties enter into with the serious intention of creating a legal obligation. Contract law provides a legal framework within which ...