The codification of the in duplum rule in South Africa and Zimbabwe
The in duplum rule is a common-law rule which is aimed at alleviating the liability of debtors to creditors by prescribing that interest ceases to run once it equals the capital sum borrowed. The rule has been part of Zimbabwean and South African common law from time immemorial. Both countries have "codified" the rule and moved towards its application statutorily without however making the common law rule inapplicable. This research is aimed towards the assessment of whether both legislatures have achieved their aims in "codifying" the rule and if so whether the "codification" may be termed a success. In so doing, an exposé into the strengths and weaknesses of both the common law in duplum rule and the statutory in duplum rule is carried out. The research further lays out problems encountered during the administration of the common-law in duplum rule, the reasons why the legislatures in both countries decided to "codify" the rule and the success of the "codification" thereof.
- Law