Ken took out a mortgage bond against his house (his primary residence and only home). However Ken
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Ken took out a mortgage bond against his house (his primary residence and only home). However Ken fails to make payments on the loan, and the bank has instituted legal action to attach and sell the house so that the proceeds from the sale of the house can be used to pay off the outstanding debt. With reference to relevant legislation and case law, critically discuss the defence Ken can raise against the bank's action.
1 Explain what is meant by “signature by procuration”. (10)
2 Discuss the purpose of the Financial Intelligence Centre Act 38 of 2001(FICA). (10)
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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