Sec 57 Admission of Liability and Undertaking to pay Debt in Instalments HR legal documents This Section 45 Directors Resolution

This Section 45 Directors Resolution template is for use and must be passed by the directors of a company before a company can provide financial assistance to a related or inter-related party (which will be a special resolution)

Even if a sublease is permitted

due to its skills and expertise

interest rate

requires the service of a collateral manager to be appointed as a trustee to keep in storage and under its control

Sec 57 Admission of Liability and Undertaking to pay Debt in Instalments HR legal documents This Section 45 Directors ResolutionIf after delivering letter of demand issuing a summons a debtor admits the debt and offers to pay in instalments a debtor can be requested to sign. This Sec 57 Admission of Liability and Undertaking to pay Debt template in Instalments in terms of the Magistrates Court Act. If the debtor fails to carry out the terms of his offer the plaintiff will be entitled without notice to apply for judgment of outstanding amounts.