Month: August 2014

MORA INTEREST

Mora is a Latin term which denotes the elapsing of time or a delay. Mora interest accrues where payment is overdue (delayed) and no interest rate has  been agreed between the parties. In order for a creditor to become entitled to such interest, there has to be a demand for payment made to the debtor …

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INCREASE IN THE MONETARY JURISDICTION OF THE MAGISTRATES’ AND SMALL CLAIMS COURTS

DID YOU KNOW THAT YOU CAN NOW BRING A CLAIM OF UP TO R400 000 IN THE REGIONAL COURT?   The monetary jurisdiction of the Magistrates’ and Small Claims Court has recently increased, making the courts a little bit more accessible and affordable. Although it is not the major increase that some had hoped for, it …

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