n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - Pledge of movables under the National Credit Act : secured loans, pawn transactions and summary execution clauses

Volume 25, Issue 4
  • ISSN : 1015-0099
  • E-ISSN: 1996-2185



A summary execution (parate executie) clause can be defined, in the words of Scott, as a provision 'in a pledge contract to the effect that the creditor may on default by the debtor sell the pledged article without recourse to a court of law'. The position at common law regarding the validity of summary execution clauses in pledge agreements was set out in .

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