Answer to Question #187948 in Law for THUMEKA MBECENI

Question #187948

Prescription of a debt or a claim is unknown in customary law. Evaluate this statement. (5)


1
Expert's answer
2021-06-01T03:37:03-0400

Prescription refers to when a debt for example an obligation to pay money is extinguished after a period of time. Customary law refers to law consisting of customs that are accepted as legal requirements or obligatory rules of conduct, practices, and beliefs that are so vital and intrinsic a part of a social and economic system that they are treated as if they were laws. South Africa has different laws which specify prescription periods, for example, the Prescription Act says that contractual and delictual debts extinguish after three years from the date when it became payable (due). Prescription periods may, in certain circumstances, be delayed or interrupted.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS