It pays to be on time! Make sure a debt owed to you does not prescribe.
11 July 2022, Robert Dobie
You remember the saying that goes “rather late than never” ? Well, in law we rather suggest not being late... at all…Time in and again we receive clients that had the chance of instituting legal proceedings against a debtor, only to find that their claim has prescribed in law.The prescription of a debt is regulated by the Prescription Act 68 of 1969 (hereinafter referred to as the Act).