What is the Prescription Act in South Africa?
What is the Prescription Act in South Africa?
South Africa has different laws which specify prescription periods, for example, the Prescription Act says that contractual and delictual debts extinguish after three years from the date when it became payable (due). Prescription periods may, in certain circumstances, be delayed or interrupted.
What is the Prescription Act 68 of 1969?
In terms of the Prescription Act 68 of 1969 (“the Act”), “debts” prescribe after a period of 3 years. In order to avoid losing the legal right to enforce a claim (payment of a “debt”), a creditor must interrupt prescription by instituting proceedings against a debtor before the end of the 3 year period.
What is a prescription in law?
Prescription is a legal principle in terms of which a debtor’s liability to pay an outstanding debt is extinguished after the passing of prescribed time periods.
What is the prescription period?
A maximum period set by statute within which a legal action can be brought or a right enforced. A statute may prohibit, for example, any individual or legal entity from bringing an action for breach of contract more than one year after the breach occurred. Also called limitation period.
What is the purpose of the Prescription Act?
It is generally accepted that the purpose of prescription is to provide certainty, especially in the case of debtors, and to encourage members of the public to actively pursue debts rightfully owed. The Act provides that “a debt shall be extinguished after prescription of the relevant period”.
Does issuing summons interrupt prescription?
Moreover, in terms of section 14 of the Prescription Act, prescription is typically interrupted by service of legal processes on a debtor (such as the issuing of summons) or by a tacit or express acknowledgement of debt by the debtor.
What are government prescripts?
The legislative prescripts promote the harnessing of innovative IT based solutions to make service as well as information on services within and across government departments more accessible in an integrated manner, particularly to people in under-serviced areas.
WHO may raise prescription?
41 (1) of Act 62 of 1973.] (1) A court shall not of its own motion take notice of prescription. (2) A party to litigation who invokes prescription, shall do so in the relevant document filed of record in the proceedings: Provided that a court may allow prescription to be raised at any stage of the proceedings.
What is the effect of prescription in law?
Effect. The prescription extinguishes the action, but not the right. The payment done when the right has prescribed is valid, but the right is not extinguished. The limitation extinguishes both the right and the action.
What is the difference between the law of limitation and law of prescription?
A Law of Prescription prescribes the period at the expiry of which not only the judicial remedy is barred but a substantive right is acquired or extinguished. A Law of Limitation limits the time after which a suit or other proceeding cannot be maintained in a Court of Justice.
How long can you legally be chased for a debt in South Africa?
three years
Time limitations The Statute of Limitation is three years in South Africa. Once this time period has elapsed the debtor can refuse to pay the outstanding account, unless summons has been issued by the courts prior to the expiration date.
How long does a prescription period last in South Africa?
Prescription. South Africa has different laws which specify prescription periods, for example, the Prescription Act says that contractual and delictual debts extinguish after three years from the date when it became payable (due). Prescription periods may, in certain circumstances, be delayed or interrupted.
What does enforceenforcement mean in South Africa?
Enforcement therefore takes the form of a South African court order directing the sheriff or another party to act. In short, a foreign judgment that has been recognised is not necessarily enforceable.
68 of 1969. The Prescription Act 68 of 1969 intends: to consolidate and amend the laws relating to prescription.
When does a foreign judgment require enforcement in South Africa?
A foreign judgment requires enforcement if an order for the performance of an act is required. Enforcement therefore takes the form of a South African court order directing the sheriff or another party to act.
