Prescription Act, 1969 (Act No. 68 of 1969)

Chapter III : Prescription of Debts

10. Extinction of debts by prescription
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(1)Subject to the provisions of this Chapter and of Chapter IV, a debt shall be extinguished by prescription after the lapse of the period which in terms of the relevant law applies in respect of the prescription of such debt.

 

(2)By the prescription of a principal debt a subsidiary debt which arose from such principal debt shall also be extinguished by prescription.

 

(3)Notwithstanding the provisions of subsections (1) and (2), payment by the debtor of a debt after it has been extinguished by prescription in terms of either of the said subsections, shall be regarded as payment of a debt.