roukoop

Etymology
+.

Noun

 * 1)  Genuine pre-estimated damages on the cancellation of a sale or lease, usually relating to immovable property.
 * 2) * 1971, ANDREWS v LIDAKS AND ANOTHER 1971 (1) SA 892 (W)
 * The applicant was called upon, within 14 days, to make payment in full of all amounts owing, failing which, it was said, the deed of sale would be cancelled and all amounts paid would be retained by way of liquidated damages or "roukoop".
 * 1) * 1978, SHIRLEY v VIRGILIA TRUST (EDMS) BPK 1978 (2) SA 357 (T)
 * As applicant, however, still failed to pay his monthly instalments the respondent had, for this reason, cancelled the contract in terms of the cancellation clause of the deed of sale which provided that the seller was entitled to retain all payments as roukoop or as agreed pre-estimated damages sustained by the seller, and also to claim money in arrear.