n Annual Survey of South African Law - Law of purchase and sale




The National Credit Act 34 of 2005 ('the Act') was signed by the President in March 2006 (GN 230 28619 of 15 March 2006). Parts of the Act have come into operation on 1 June 2006, others on 1 September 2006, and by 1 June 2007 the remainder of the Act came into operation (see J M Otto (2006) 6-9). The Act is discussed more fully in the chapter on Financial Institutions and Stock Exchanges and is also mentioned in the chapter on General Principles of Contract. Only certain aspects relevant to instalment sales agreements are briefly discussed here.


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