Cape Times Ltd v Goldsmid [1913] ZAWLD 3 (21 January 1913)

Debtor and creditor - Mortgage bond - Surety and co-principal debtor - Merger - Subsequent cession - Rights of cessionary

A surety and co-principal debtor under a mortgage bond having acquired by cession the rights of the mortgage creditor ceded his rights under the bond to a third person.

Held, that, in the absence of evidence that he had either expressly or impliedly undertaken any liability as surety and co-principal debtor, the cession to the third person did not revive such liabilities and that the cessionary had merely acquired the cedent's rights as mortgage creditor.