Debt CollectionCessionExchange Control Regulations
Keywords
acknowledgment of debtcessionaryillegal transactionforeign currencypar delictum
Tags
debt collectioncessionforeign currency transactionexchange control
legislation
Statutes Cited
Exchange Control Regulations (specific regulation not identified)
ai analysis
Case Summary
Key Issues
{"issue_text":"Whether a transaction in foreign currency between Zimbabwean residents in 2008 contravened Exchange Control Regulations","issue_type":"law","dispositive":"yes","related_facts":"Transaction occurred in October 2008; parties were Zimbabwean residents; transaction was in US dollars"}
{"issue_text":"Whether the court should relax the par delictum rule in favour of the plaintiff","issue_type":"law","dispositive":"yes","related_facts":"Plaintiff pleaded for relaxation of the rule; transaction found to be illegal"}
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background
Facts of the Case
Background
The plaintiff, a cessionary, sued the defendant for payment of US$7,000 based on an acknowledgment of debt signed in October 2008. The defendant initially defended the matter but defaulted at the pre-trial conference stage, resulting in his defence being struck out and the matter proceeding as an unopposed application.
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