Asked by sphah
on 29-07-2020 11:32:27
Question posted in the General Law
category relating to KwaZulu-Natal
Question value: R 100.00
Hello. Am a manager for Sbongisenis company, who has been loaning money every day and its been a week now plus its continuing to Mr Naidoo. Mr Naidoo gave Mr Mkhize a car lockbook as collateral. The amount is now mounting and Mr Mkhize is worried so he made Mr Naidoo both a security agreement and loan agreement to sign. Mr Naidoo want a loan of R15000 $1000 and till today has loaned half of the money plus interest. What can Mr Mkhize do to be on a safe side at the same time he still want to help Mr Naidoo since he claim he is in need lost a job, can Mr Mkhize hold the car also as collateral
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