ING Bank v Wilson [2013] SASC 6

This was an absurd case where the mortgagor attempted to argue that his tender of a promissory note to the mortgagee in terms of a promise to pay $285,000 discharged his mortgage.

The court noted that the promise in a promissory note is no different from the promise contained in the mortgage to repay the mortgage debt and where the promisor is also the mortgagor, its tender does not discharge the mortgagor from his obligations under the mortgage. To hold otherwise would enable a mortgagor to convert a secured indebtedness into an unsecured indebtedness, without reference to the mortgagee.

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