oa De Rebus - NCA : the line in the sand - can a cancelled agreement be revived? : case note - consumer law
proper interpretation of the National Credit Act 34of 2005 (the NCA) often continues to bewilder, especially when considering aspects of the 'cancellation' or 'reinstatement' of a credit agreement as envisaged in s 129(3) and (4). However, there appears to be light at the end of the tunnel of 'debt enforcement'. The High Court recently made a significant ruling in the case of Standard Bank of South Africa Ltd v Botes t/a JHLS Botes Vervoer (NWM) (unreported case no: M85/2015, 13-9-2015) (Landman J). The court stated that the NCA does not regulate cancellation of a credit agreement and, thus, common law cancellation prevails. It further draws the proverbial line in the sand, where after a consumer can no longer reinstate the credit agreement.
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