, LML4807 Assignment 1 Semester 1 | Due March 2025;;
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explanations. …..WE WISH YOU A GOOD LUCK….
N/B Multiple Answers provided.
Briefly discuss the following prescribed case: Joint Stock Co
Varvarinskoye v Absa Bank Ltd and Others 2008 (4) SA (SCA)
The allocation of marks for the discussion is as follows: 1. Facts
of the case (3)
2. Issue before the court (1)
3. The decision of the court (3) 4. A critical comment on the
decision (3)
Case Summary: Joint Stock Co Varvarinskoye v Absa Bank
Ltd and Others (2008) 4 SA (SCA)
1. Facts of the Case (3 Marks):
In this case, the Joint Stock Company Varvarinskoye (a
Russian company) entered into an agreement with Absa Bank
Ltd (the South African bank) concerning a banking transaction
that involved a foreign currency loan. The loan was secured by a
bank guarantee issued by Absa Bank in favor of
Varvarinskoye. However, the loan was not repaid as agreed,
and the bank guarantee was called upon.
The issue arose when Varvarinskoye attempted to enforce the
guarantee under South African law. The foreign company
(Varvarinskoye) and Absa Bank had disagreements regarding
100% TRUSTED Complete, trusted solutions and
explanations. …..WE WISH YOU A GOOD LUCK….
N/B Multiple Answers provided.
Briefly discuss the following prescribed case: Joint Stock Co
Varvarinskoye v Absa Bank Ltd and Others 2008 (4) SA (SCA)
The allocation of marks for the discussion is as follows: 1. Facts
of the case (3)
2. Issue before the court (1)
3. The decision of the court (3) 4. A critical comment on the
decision (3)
Case Summary: Joint Stock Co Varvarinskoye v Absa Bank
Ltd and Others (2008) 4 SA (SCA)
1. Facts of the Case (3 Marks):
In this case, the Joint Stock Company Varvarinskoye (a
Russian company) entered into an agreement with Absa Bank
Ltd (the South African bank) concerning a banking transaction
that involved a foreign currency loan. The loan was secured by a
bank guarantee issued by Absa Bank in favor of
Varvarinskoye. However, the loan was not repaid as agreed,
and the bank guarantee was called upon.
The issue arose when Varvarinskoye attempted to enforce the
guarantee under South African law. The foreign company
(Varvarinskoye) and Absa Bank had disagreements regarding
