n Without Prejudice - Unlawful levying of interest : contract law

Volume 15, Issue 5
  • ISSN : 1681-178X



The SCA judgement in (734/2013) [2014] ZASCA 121 (19 September 2014) () sounds another warning to commercial lawyers to be aware of the implications of the National Credit Act (34 of 2005) (NCA) when drafting their clients' contracts. In this case, the simple act of levying interest on the deferred payments of the purchase price for shares had the unintended consequence of rendering the sale of shares contract null and void .

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