Credit Agreement Resolutive Condition

1701 Words May 5th, 2013 7 Pages
Pactum reservati dominii
2. Facts of the case and the issues to be decided 4
3. Validity and effects of pactum reservati dominii in the present case 5
Conclusion 7
References 8

Table of Cases
Quirk’s Trustees v Assignees of Liddle & Co. (1884 – 1885) 3 SC 322
Courtney-Clarke v Bassingthwaighte 1990 NR 89 (HC)
Smith & Venter v Fourie 1946 WLD 9
R v Ellinas 1949 (2) SA 45
Gosvenar Motors v Samson 1956 (3) SA 169
National Motors v Fall 1958 (2) SA 570

Introduction
The law governing credit transactions is the Credit Agreement Act 75 of 1980 (hereinafter referred to as the Act) which replaced the Hire-Purchase Act 36 of 1942 as a result of Proclamation AG 17/1981 which states that “Subject to the provisions of
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Validity and effects of pactum reservati dominii in the present case

The Credit Agreement Act provides the following regulation:

(1) The Minister may…. (a) prescribe the maximum period within which the full price under a credit agreement shall be paid; (b) prescribe the portion of the cash price or any other consideration which shall be paid or delivered as an initial payment or initial rental in terms of a credit agreement; (c) prescribe the manner in which the price of any goods or service shall be displayed or advertised; (d) generally, prescribe any such conditions as he may find fit in regard to any credit agreement.
(2) Different regulations may be made under subsection (1) in respect of different credit agreements, kinds of credit agreements, goods, services, classes or groups of goods or services, credit grantors or credit receivers or categories of credit grantors or credit receivers.

It is also worth mentioning that Section 1 (b) states that the “goods” shall mean movable goods or in other words movable property. There is no doubt that the parties agree that the buyer will pay in instalments. There is also no doubt that the buyer did not honour the agreement. The problem that we have to
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