n Annual Survey of South African Law - The law of negotiable instruments
|Article Title||The law of negotiable instruments|
|© Publisher:||Juta Law Publishing|
|Journal||Annual Survey of South African Law|
|Publication Date||Jan 2007|
|Pages||876 - 884|
The decision in Melamed Finance (Pty) Ltd v VOC Investments Ltd  SCA 75 (RSA) (SCA 31 May 2006 (case 364/05) unreported) is very important. The facts are fairly straightforward : On 13 November 2000, VOC Investment's computer system generated four cheques in favour of a payee, Damelin Textiles. All the cheques were drawn on the Standard Bank of South Africa Ltd and bore that date. The cheques were intended to be post-dated, but the computer system used for printing the cheques was not able to print post-dated cheques. So the date on each cheque was altered in manuscript to reflect the intended date of payment. The alterations were signed by the same two signatories who were authorized to draw the cheques on behalf of VOC Investment. After the dates were changed, the payee negotiated three of the cheques to Melamed Finance.
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