Assignment task: Murti is a distributor who operates from Conubia in Durban. His principal place of business is in Durban, but Murti travels to Gauteng regularly to obtain a rare commodity called Hygenic Body wash, which is manufactured by Nad.
Murti buys Hygenic Body wash from Nad for R20 000 subject to the National Credit Act. The agreement is concluded at Nad's head office in Sandton.
Two days after delivery of the goods to Conubia a major customer of Murti's liquidate, leaving him destitute. Murti defaults on his payment to Nad. Discuss the legal position in the following cases:
The agreement states that interest is charged at a rate of 30% per month.