A legal analysis of the concept “payment” in South African Law

Abstract : This dissertation provides a discussion on, and an explanation of, the important aspects of the concept “payment” in South African law. The following areas are covered by this dissertation: a general introduction to the concept of payment, the definition, the nature and some of the methods of payment, the law governing payment and a few proposals to develop the concept “payment” in South African law. The main issue in this dissertation is on the legal uncertainty around the finality of payment. This will lead to a discussion of payment aspects such as the difference between payment and a promise to pay, the time of payment, the place of payment and a conditional payment. Above all, recommendations, specifically on the legal framework regulating payments in South Africa, will be put forward in an attempt to address problems relating to this concept.LL.M. (Banking Law