The Impact of Section 129(1)(A) of the National Credit Act on the Prescription of Credit Agreement Debt
Journal of Contemporary Roman-Dutch Law, Vol. 78, p. 457-475, 2015
19 Pages Posted: 14 Jan 2016
Date Written: August 13, 2015
The purpose of this contribution is to establish the effect of compliance or non-compliance with the peremptory statutory pre-enforcement notice in terms of section 129(1)(a) of the National Credit Act in the context of prescription of credit agreement debt. Pertinent issues that need to be considered is whether a section 129(1)(a) notice qualifies as a "process" and, further, whether it qualifies as a process whereby payment of a debt is claimed as contemplated in section 15 of the Prescription Act. This will provide an answer to the question whether delivery of a section 129(1)(a) notice may serve to interrupt prescription.
Keywords: credit agreement, prescription
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