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Credit Security and Notarial Bonds

Introduction This article discusses what notarial bonds are, and how they operate as a form of credit security in terms of South African law.   What is Credit Security? When a creditor makes a loan to a debtor, the creditor does so with the hope and expectation that the debtor will repay the loan, usually
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John Walker Pools v Consolidated Aone Trade & Invest 6 (Pty) Ltd (in liquidation) and Another [2018] ZASCA 12 (8 March 2018)

BACKGROUND In this matter, an eviction order of the KwaZulu-Natal Division, Pietermaritzburg (the “Court a Quo”) was granted against John Walker Pools (Pty) Ltd (“JWP”). In terms of the eviction order JWP were to be ejected from occupying the shop premises. The Court a Quo dismissed JWP’s application for leave to appeal. Subsequently, the application
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Nkosi v Minister of Justice and Correctional Services and Others (00028-2018) [2018] ZAGPJHC 3 (5 January 2018)

SUMMARY   The Applicant was a prisoner, who had been convicted of multiple offences, inter alia, murder and robbery with aggravating circumstances. The Applicant had served 15 (Fifteen) years of his life sentence and would be considered for parole only on or about 10 April 2019. On 28 December 2017, the Applicant’s mother passed away
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Bondev Midrand (Pty) Ltd v Puling (802/2016); Bondev Midrand (Pty) Ltd v Ramokgopa (803/2016) [2017] ZASCA 141 (2 October 2017)

BACKGROUND AND FACTS The Appellant, Bondev Midrand (Pty) Ltd, developed over 4000 residential dwellings in Midstream Estate. The appeals in this matter relate to immovable property within the aforesaid estate as sold by the Appellant to Mr Ramokgopa and Mr and Mrs Puling, respectively. The two appeals relate to the transfer of property in case
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Basson and Another v Reddy and Others (11695/2017) [2018] ZAKZDHC 9 (20 April 2018))

SUMMARY The First and Second Applicants, were the owners of a property situated in Chiltern Hills, Kwazulu Natal (“the Property”). On 22 June 2016 the Applicants entered into an agreement with the First and Second Respondent (hereinafter the Respondents) for the purchase and sale of the Property. Clause 1.5 of the contract of sale required
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