Pam Golding ordered to return R1m deposit after property seller loses bid to retain it
Supreme Court of Appeal dismisses appeal bid and finds seller had not proved his case
15 April 2024 - 20:25
After the property sale for his house in Hout Bay worth millions fell through due to the Covid-19 pandemic, a UK accountant has lost his case to claim a R1m deposit as “damages”. Pam Golding, the property company which held the R1m deposit, was ordered to return it to the buyer.
In a unanimous ruling, the Supreme Court of Appeal (SCA) found the UK accountant “had not proved” his case. The judgment, from the second highest court in the country, can be used as precedent for contracts. Its view must be used in all agreements, and, in particular, in sale agreements throughout the country...
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