Question: Question 1 (5 marks) Read the scenario below and answer the question that follows. Formation of a suretyship Yandiswa is a Managing Director at XYZ

Question 1 (5 marks) Read the scenario below and answer the question that follows.

Formation of a suretyship Yandiswa is a Managing Director at XYZ Attorneys, and she approaches ABC Bank to process a credit application on behalf of the company. She completes and signs the credit application form, which also contains a contract of suretyship that she had no knowledge of. Subsequently, XYZ Attorneys fails to repay the loan and ABC Bank sues the company as the debtor, as well as Yandiswa in her personal capacity as a surety.

As a Compliance Officer for XYZ Attorneys, advise Yandiswa on the validity of the contract of suretyship in question. Your answer should be supported by the legal precedent set in Brink v Humphries & Jewell (Pty) Ltd. (516/03) [2004] ZASCA 131; [2005] 2 All SA 343 (SCA) (30 November 2004). Limit your discussion to no more than five statements.

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