Browsing by Author "Koekemoer, Michel"
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Item Perfecting a general notarial bond: you can't have your cake and eat it! ABSA bank limited v go on supermarket (Pty) limited (the spar group limited intervening) (9442/2022) [2022] zagpjhc 173 (24 March 2022)(Potchefstroom Electronic Law Journal (PELJ), 2023) Koekemoer, Michel; Brits, ReghardA general notarial bond registered over movable property grants the bondholder a real security right enforceable against third parties only if the bond has been perfected by transferring possession of the property to the bondholder. Based on the facts and judgment in Absa Bank Limited v Go On Supermarket (Pty) Limited, this analysis revisits the basic principles of and requirements for the perfection of a general bond. We ultimately criticize the judgment on three scores. Firstly, the court regarded the form of delivery (transfer of possession) applicable in this matter as symbolic delivery, but we point out that it amounted to constitutum possessorium – meaning that the attempted perfection of the bond was ineffective