Melamed Finance (Pty) Ltd v VOC Investments Ltd may turn out to be a very important decision. The facts are fairly straightforward: On 13 November 2000 VOC Investment's computer system generated four cheques in favour of a payee, Damelin Textiles. All the cheques were drawn on the Standard Bank...

This decision may have important consequences for practising attorneys as far as their trust accounts are concerned. Not only did the Supreme Court of Appeal correct the court a quo's misconceptions regarding the nature of an attorney's liability as drawer on a cheque drawn by him on his trust...

The drawer of a cheque is usually justified to countermand payment of a cheque if there has been some breach of contract or misconduct on the part of the creditor. This will be determined by the circumstances of every case. However, the drawer is entitled to countermand payment of the cheque...

A bank is under a duty to pay on demand cheques drawn on it by a customer, provided that they are in all respects genuine and complete and provided that sufficient funds or overdraft facilities are available on the customer's account. As a general rule, a bank may combine two or more accounts of...

This article is concerned with the provisions of the National Payment System Act (NPSA) which provides, inter alia, for the appointment and conditions of appointment of payment service providers, such as CPS, to make payments to creditors. The growing involvement of non-banks in the payment and...

The Corondimas principle is clearly not in step with the general principles of the law of contract and it was (and still is) criticised, with good reason, in the case law and in academic circles. (See eg Provident Land Trust Ltd v. Union Government 1911 AD 615; Tuckers Land and Development...

This decision deals with a number of important aspects of the law relating to cheques, such as "kiting" (also known as "cross-firing", "round-tripping" or "merry-go-round"), the effect of the drawer's liquidation on the drawee's duty and authority to pay a cheque in terms of section 73 of the...

A legal obligation envisages performance and is extinguished when the required performance is duly made. Monetary obligations must normally be discharged by the payment of the appropriate sum of money, that is to say, by means of legal tender. It is trite that a cheque is not legal tender and...

Section 81 (consisting of subsections (1)–(8)) of the Bills of Exchange Act 34 of 1964 provides for the legal position of the so-called "true owner" of a crossed cheque marked "not negotiable" where such a cheque is stolen or lost. The present case is important because it is the first reported...