Some Practical and Comparative Aspects of the Cancellation of Installment Agreements in Terms of the National Credit Act 34 of 2005 (Part 1)

2007 De Jure

14 Pages Posted: 26 Feb 2018

See all articles by Andre Boraine

Andre Boraine

University of Pretoria

Stefan Renke

University of Pretoria - Faculty of Law

Date Written: 2007

Abstract

English Abstract: The main obligation of a consumer to whom credit was extended in terms of a credit agreement is to pay the debt by means of installments. Consequently, failure to pay installments when they are due, is the most frequent form of breach of contract committed by consumers. As credit providers do not always want to rely on ex lege remedies to rectify breach of contract by the consumer, it has become standard practice to insert remedy clauses in the contract.

Afrikaans Abstract: OPSOMMING Enkele praktiese en vergelykende aspekte van die kansellasie van afbetalingsooreenkomste ingevolge die Nasionale Kredietwet 34 van 2005 Teen die agtergrond van die toepassingsgebied van die Nasionale Kredietwet 34 van 2005 behandel hierdie artikel sekere praktiese aspekte met betrekking tot die kansellasie van ’n afbetalingsooreenkoms ingevolge dié Wet, deur die proses onder andere met die voormalige Wet op Kredietooreenkomste se kansellasiebepalings rakende ’n afbetalingsverkooptransaksie ingevolge daardie Wet, kortliks te kontrasteer. Verder word die proses, insluitende sommige probleemaspekte rakende die 2005 Wet, behandel. Die skrywers maak sekere aanbevelings rakende die praktiese hantering van ’n kansellasie van ’n afbetalingsooreenkoms in die lig van bepaalde uitlegprobleme en waarskynlike leemtes ingevolge laasgenoemde Wet.

Suggested Citation

Boraine, Andre and Renke, Stefan, Some Practical and Comparative Aspects of the Cancellation of Installment Agreements in Terms of the National Credit Act 34 of 2005 (Part 1) (2007). 2007 De Jure , Available at SSRN: https://ssrn.com/abstract=3124246

Andre Boraine (Contact Author)

University of Pretoria ( email )

Physical Address Economic and Management Sciences
Pretoria, Gauteng 0002
South Africa

Stefan Renke

University of Pretoria - Faculty of Law ( email )

Lynnwood Road
Pretoria, 5100
South Africa

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
8
Abstract Views
126
PlumX Metrics