Magic Eye Trading 77 CC and Another v Santam Limited and Another (775/2018) [2019] ZASCA 188 (10 December 2019)

Whether a contingent right to claim an indemnity had prescribed –
when prescription in respect of such claim starts to run – indemnity can only be against
actual loss – a claim to be indemnified becomes due only when the insured is under a
legal liability to pay a fixed, determinate amount.