oa Juta's Business Law - Combining bank accounts
|Article Title||Combining bank accounts|
|© Publisher:||Juta Law Publishing|
|Journal||Juta's Business Law|
|Publication Date||Jan 2008|
|Pages||51 - 54|
It often happens that a bank may wish to include the debts relating to, for example, the non-payment of a motor vehicle finance transaction in the cancellation figures of a mortgage bond owed to the bank. In this way, the bank effectively forces its client to pay all the outstanding debts from the proceeds of the sale of the property that was bonded as security for the mortgage loan. In this article I want to examine the validity of this practice.
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