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Credit Agreements and the National Credit Act


Liability for the payment of interest is a stock feature of credit agreements, i.e. typically agreements in terms of which the consumer obtains the use of particular goods or services but payment for which is spread out over a period of time in the future, usually in the form of monthly instalments. Interest is sometimes regarded as the lifeblood of commerce (by enabling more consumers to buy more goods this has a positive impact on the economy). The time-value of money clearly justifies some role for an interest mechanism in commerce. In the context of consumer agreements an unrestrained role for interest can work great injustice. A contrary perspective in regard to interest is that it is harmful for consumers and should be disallowed altogether.

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  • Home
  • ABOUT THE FIRM
  • FIELDS OF EXPERTISE
    • COMMERCIAL & SMALL BUSINESS LAW >
      • Companies
      • Business Agreements
      • Commercial Leases
      • Sale of Business
      • Partnership
      • Joint Venture
      • Franchising
      • Restraints of Trade
      • International Licensing Agreements
      • Project Management
      • Construction Law
      • Product Liability
      • Product Recalls
      • Competition Law
      • Debt Collection
      • Insolvency, Sequestration and Liquidation
      • Website and Domain Names
      • Trade marks
      • Inventions and Patents
    • CORPORATE LAW >
      • Company Registration
      • Company Reregistration
      • Company Secretarial Services
      • Memorandum of Incorporation
      • Shareholder's Agreements
    • PERSONAL AND FAMILY LAW >
      • Wills and Testaments
      • Estates and Estate Planning
      • Executors and Agents
      • Personal Trusts
      • Antenuptial Contracts
      • Divorce
      • Maintenance
      • Care, Contact and Guardianship
      • Sequestration and Insolvency
      • Mediation
    • CONSUMER PROTECTION >
      • Consumer Protection and the Consumer Protection Act
      • Credit Agreements and the National Credit Act
      • Cooling-off Rights
      • Product Defects
      • Defective Repairs
      • Injuries Caused by Defective Products
      • Unfair Contracts
      • Rental Agreements and Leases
      • Housing Consumers
      • ITC / Black-Listed
      • Older Persons and the Law
      • Investment Laws
      • Building Contract Disputes
  • CONTACT US