Creditors and debtors: Important new prescription judgment
“Running into debt isn’t so bad. It’s running into creditors that hurts” (Unknown) Debts prescribe (become uncollectable) after a specified period of time – 3 years for most run-of-the-mill debts but 30 years for others such as judgment debts, mortgage bond debts, property rates and tax debts. Various other periods apply to specific statutory debts […]
BEWARE PRESCRIPTION: THE TALE OF THE “WATERTIGHT CASE” THAT DIED A SAD AND SUDDEN DEATH
“Sad is the day when a party with a watertight case comes to court and he is stopped in his tracks by a sudden death due to a fatal blow from a watertight defence of prescription. The present matter is a classic case of this nature” (extract from judgment below) Here’s another warning from our […]