Prescription & The National Credit Act

2017-02-15T08:34:08+02:00Feb 14th, 2017|Tags: , , |

When most people hear the word "prescription", they think of an instruction written by a doctor authorising a pharmacist to dispense medication to a patient. However, in a legal context "prescription" refers to the extinguishment of a debt after a prescribed period of time. In other words, when you owe someone money and they do not collect it from you for a period of what is usually 3 years, and fail to sue you for [...]