MEGA MARKET (PRIVATE) LIMITED versus NEDBANK ZIMBABWE LIMITED

Key Issues

• {"issue_text":"Whether there was a valid contract between parties for the bond note promotion","issue_type":"mixed","dispositive":"yes","related_facts":"No written contract existed, parties conducted business over several months, respondent approved applications without queries"}
• {"issue_text":"Whether respondent had legal authority to unilaterally reverse completed transactions","issue_type":"law","dispositive":"yes","related_facts":"Each transaction was complete when debited, no provision for future exchange rate changes, SI 33/2019 not retrospective"}
• {"issue_text":"Whether applicant established requirements for interdictory relief","issue_type":"law","dispositive":"yes","related_facts":"Clear right, irreparable injury, no other remedy, balance of convenience"}
• {"issue_text":"Whether the application complied with court rules and was urgent","issue_type":"procedural","dispositive":"no (both points dismissed)","related_facts":"Wrong form used, 10-day delay from notification to application"}

Background