n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - A credit provider's complete defence against a consumer's allegation of reckless lending

Volume 26, Issue 1
  • ISSN : 1015-0099
  • E-ISSN: 1996-2185



'It is universally accepted that moneylending transactions are susceptible to abuse mainly because borrowers are usually in a much weaker position than lenders. Moneylenders can therefore easily exploit this vulnerability of the borrower, and some have been guilty of serious impropriety so frequently as to give rise to considerable concern. Moneylending transactions are therefore legitimately subject to legislative control in most parts of the world.' South Africa is no exception, and moneylending to consumers is strictly regulated by the National Credit Act (NCA). The Act applies, with only a few exclusions, to all consumer credit agreements concluded between parties dealing at arm's length and made, or having an effect within, South Africa.

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