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.
