The respondent, a co-operative society formed through the amalgamation of two co-operatives under the Co-operatives Act 91 of 1981, sued the appellants for payment of a substantial debit balance on a running account. The account had been operated by a company of which the appellants were directors and shareholders. Although the company was not a member of the co-operative, it was treated as if it were a member because all its directors and shareholders were members. The appellants bound themselves as sureties and co‑principal debtors for the company’s obligations. Over several years, the co-operative advanced production credit to the company, charged compound interest at rates applicable to members, and rendered regular statements of account. No written objections were lodged by the appellants or the company within the periods stipulated in the co-operative’s statutes. After default, the respondent relied on statutory conclusive evidence clauses to prove the indebtedness. The appellants raised numerous defences, including the invalidity of the conclusive evidence clauses, alleged overcharging, discharge of the debt by a State payment, lack of locus standi, and non-compliance with the Usury Act.