Question posted in the General Law category relating to Eastern Cape
1. Could you please clarify for me with regards to the Prescription Act 68 of 1969, Point 3 - 'Summons was not issued and served on you'- does this refer only to a summons was served within the past 3 years or to any summons which may have been served irrespective of the date?
2. Is a bank overdraft with a South African bank considered a contract debt even if a judgement was ordered by the High Court in favour of the Bank and a warrant of execution was served on the plantiffs 4 years ago or is the debt considered a judgement debt and only be extinguished after a 20 year time period?
Answer to the Question
I see that you haven't made a payment for the question, but I'm going to assist you a little. If you want to ask a follow-up question, please make the required payment, even if it is R150 or R200.
In order to interrupt prescription, a summons must be issued and served on you before the 3 year date.
Is a bank overdraft with a South African bank considered a contract debt --> yes
a judgment would be a separate judgment debt
Please remember this is a dialog if you have follow-up questions please make the required deposit, then use the REPLY button and ask your further question. I would like to continue assisting you, but I need to concentrate on people who make deposits for their questions - they get serviced first!