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Credit agreements in South Africa are agreements or contracts in South Africa in terms of which payment or repayment by one party (the debtor) to another (the creditor) is deferred. This entry discusses the core elements of credit agreements as defined in the National Credit Act, and the consequences of concluding a credit agreement in South ...
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Part C of the NCA, [4] dealing with the various categories of credit agreements, excludes a lease of immovable property from these categories. This means that a credit agreement does not include a lease of immovable property. It also means that the definition of a contract of letting and hiring of immovable property remains the same.
South African contract law is "essentially a modernized version of the Roman-Dutch law of contract", [1] and is rooted in canon and Roman laws. In the broadest definition, a contract is an agreement two or more parties enter into with the serious intention of creating a legal obligation.
The Government of South Africa, or South African Government, is the national government of the Republic of South Africa, a parliamentary republic with a three-tier system of government and an independent judiciary, operating in a parliamentary system. Legislative authority is held by the Parliament of South Africa.
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The first step toward the agreement was made in 1999 by EFTA when The Secretary-general of EFTA started a conversation with South African Minister, Alex Erwin, about the possibility of a free trade agreement with the Republic of South Africa. [3] In 2000 EFTA sent a delegation to start a formal negotiation. [3]
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