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This book examines all aspects of this important area of the law. It provides a holistic examination of extinctive prescription – the theory, the policies and the practical application. It also contains critical analyses of important questions, such as whether prescription brings about the extinction of a debt; the concept of a debt as the subject matter of extinctive prescription, and the relationship between extinctive prescription as governed by the Prescription Act and the other prescription periods or limitation periods. The chapters covering the application periods of extinctive prescription provide the practitioner with a comprehensive and detailed text in which the practicalities – the beginning of prescription as well as its suspension, interruption and waiver – are discussed.