Ruthless judge rules that daughter doesn't owe parents any of R540,000 loan
What’s the biggest loan you have ever loaned someone, and did they pay it back?
A parent's duty to their kid can often been more than one bargains for, but who would've known how things would go south with this blood money?
Parents who were simply "looking after the interests of their child” while she was going through a divorce, have been done dirty.
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So how did this all start?
Parents in the Free State lent R540,000 to their daughter while she was going through a divorce to buy her husband out of their marital home.
The alleged agreement was that the father would cover R300,000 and the mother cover R240,000 out of their pocket to help their daughter. This money was then to be returned.
Times Live reports that: "The daughter admitted that she received the money but she argued that her parents failed to produce sufficient evidence to establish that when they gave her the money, she had any intention of repaying them."
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The action was dismissed with costs. According to the judgment, the father failed to prove the creation of contractual obligations and failed to prove the establishment of a contract from which rights may flow. The father also conceded during cross-examination that he and the daughter had not reached an agreement about a repayment date.
It is agreed that the family failed in proving the existence of a loan agreement containing a contractual term stipulating when the alleged amount was due and payable.
How did things with the family turn so nasty?
We chat to our listeners later today about when you loan money to others, do you have a written agreement or do you use a gentleman’s agreement and hope for the best? Tune in from 16:00 to 19:00.
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