Mr and Mrs Modise married each other in community of

Mr and Mrs Modise married each other in community of property a few years ago. Mr Modise is  a  carpenter  who  runs  his  business  in  a  close  corporation.  In  the  name  of  the  close corporation he recently bought an old house from which he would like to operate his joinery. Mr  Modise  is  the  sole  member  of  the  close  corporation.  The  bank,  however,  wanted  him  to bind  himself  as  surety  for  the  close  corporation’s  bond  over  the  house.  Mr  Modise  did  so without Mrs Modise’s consent. When the bank proceeded to claim the bond payments from Mr Modise after the close corporation had been sequestrated, Mr Modise argued that the deed of suretyship was invalid because he was married in community of property and entered into the deed of suretyship without Mrs Modise’s consent. You now act on behalf of the bank. Explain what advice you will give the bank with reference to legislation and case law.

 

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