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However, Agip Ltd could not succeed for receipt of the money at common law (which did not allow electronic rather than physical tracing) or in equity (because the money was not transferred for the accountants' benefit). Banks can be liable in knowing receipt only if they receive and apply trust money to reduce or discharge a customer's ...
A good deal of confusion has been caused in South African law by the expression warranty, which has a variety of technical meanings in English law. In South Africa, the word warranty is non-technical and simply means "term". Unfortunately, the use of the words condition and warranty in the English-law sense is relatively common in South Africa ...
The South African law of sale is an area of the legal system in that country that describes rules applicable to a contract of sale (or, to be more specific, purchase and sale, or emptio venditio), generally described as a contract whereby one person agrees to deliver to another the free possession of a thing in return for a price in money.
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Key takeaways. A creditor may place a bank levy on your account to collect on an unpaid debt. With a bank levy in place, your account will be frozen until the creditor takes the money you owe ...
The exception is where such receipt is "unjust" or "unjustified". Both civil and common law legal systems have bodies of law providing remedies to reverse such enrichment. A conceptual split, albeit one not necessarily coextensive with the common law - civil distinction, is between systems based on an "unjust factor" approach and systems based ...
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"Property" in this context is defined to include "movable or immovable property wherever situate in South Africa." [27] It includes a right of action, unless the action is one that the insolvent is permitted to institute. It also includes property that is, or the proceeds of property that are, in the hands of a sheriff under a writ of attachment.
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