Even if a debt were property within the meaning of Section 134, the non-cedendo pactum would prevent the lifeguard from transferring the accounting debts without the bank`s consent. Section 134 (3) does not apply to a standard transfer of accounting debts, since the definition of „guarantee“ in Section 1 of the Insolvency Act is „the property of an estate over which the creditor has a prerogative because of a particular mortgage, the lender`s legal assumption, the deposit or the right of withholding. The assignment is a bilateral legal act by which the Cedent transfers its rights to the transfer member. The assignment can be conceived as a safe assignment or assignment. In the event of a safe assignment, the assignor transfers his right of action on a debt owed to him, said principal, to the custodian of the assignment, as a guarantee of the debt that the buyer owes to the ceding, so-called guaranteed debts. A right of appeal is the legal possibility of recovering the main debt. However, the property of the right remains owned by the Cedent, despite the transfer. The withdrawal agreement is entered into a commitment agreement such as a loan agreement or a sales contract. The assignment obligation is fulfilled in a transfer agreement such as a transfer and deposit contract. The withdrawal agreement and the withdrawal obligation may be included in separate agreements or in an agreement. In both cases, the beneficiary of the transfer has the right, without prior decision, to settle the debt guaranteed at the maturity agreed by the assignor and the ceding, he is entitled to repay without prior decision the debt owed to him. As a general rule, the surplus recovered is returned to the ceding company. We now turn to the question of the applicability of Section 134 of Act 71 of Companies 2008 Accounting Debt Disposals.

Why do I need a transfer of agreements? The reasons for the sale and assignment of an agreement are multiple and may include restructuring an organization, transferring a business or acquiring a debt. This transfer agreement provides for the transfer of rights and the transfer of obligations from one person to another. The transfer taker in this type of assignment is not required to inform the debtors of the transferor. The transfer director only holds this assignment as collateral, the cleared accounting debts are constantly replaced by new ones. In Grobbelaar/Oosthuizen 2009 (5) SA 500 (SCA), the Tribunal found that in the event of a transfer of rights, the assignor would lose all rights by issuing these rights to an assignee and, after the transfer, nothing would remain in the transferor (see item 8). This decision was supported by Kritzinger and Another/Standard Bank of South Africa (3034/2013) [2013] ZAFFHS 215 (September 19, 2013) (Kritzinger case). FirstRand Bank Ltd (bank) obtained the verdict against Brayton Carlswald (Pty) Ltd (Brayton) and Jonathan Paul Brews (together, defendant) in an earlier case for the payment of a sum of money. He tied up Brayton`s properties to execute the verdict.