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

See all articles by C. M. Van Heerden

C. M. Van Heerden

University of Pretoria

Andre Boraine

University of Pretoria

Date Written: August 13, 2015

Abstract

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

Suggested Citation

Van Heerden, C. M. and Boraine, Andre, The Impact of Section 129(1)(A) of the National Credit Act on the Prescription of Credit Agreement Debt (August 13, 2015). Journal of Contemporary Roman-Dutch Law, Vol. 78, p. 457-475, 2015, Available at SSRN: https://ssrn.com/abstract=2714836

C. M. Van Heerden (Contact Author)

University of Pretoria ( email )

Physical Address Economic and Management Sciences
Pretoria, Gauteng 0002
South Africa

Andre Boraine

University of Pretoria ( email )

Physical Address Economic and Management Sciences
Pretoria, Gauteng 0002
South Africa

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