Prescription – A Debt Which Is Repayable On Demand Becomes Due The Moment The Advance Is Made
The Prescription Act 68 of 1969 (“the Act”) regulates the running of Prescription. A debt will prescribe after the lapse of a certain time period. This means that the claimant will not be able to issue a claim once the time period has lapsed. Section 12 (1) and (2) of the Act stipulates that prescription shall commence […]