n Tydskrif vir die Suid-Afrikaanse Reg - Contract contrary to public policy : the cash loan debacle : regspraak

Volume 2003, Issue 4
  • ISSN : 0257-7747
  • E-ISSN: 1996-2207



Reduced to its barest essentials, a "cash loan" is a money-lending transaction in terms of which one party, namely the lender, advances funds to another person, the borrower, for use and thereafter repays the capital amount together with interest and related expenses such as administrative fees. To this extent a cash loan is no different from an ordinary "money-lending transaction" which as defined in section 1 of the Usury Act 73 of 1968 means "any transaction which, whatever its form may be, and whether or not it forms part of another transaction, is substantially of money lending".

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