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n Journal for Juridical Science - Tacit responsibilities assigned to the drafter of a credit agreement by the 34 of 2005 with particular emphasis on contractual consensus : a critical analysis

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Abstract

The 34 of 2005 came into full operation on 1 June 2007, effectively replacing the 75 of 1980 and the 73 of 1968. The main aim of this piece of legislation is to prevent the granting of so-called "reckless credit" to consumers, and in doing so protecting consumers from credit which may be, or may become, unmanageable. However, the act has placed some heavy responsibilities on certain areas of the law, especially the law of contract. The reason for this is that the relationship between the grantor of credit and the recipient thereof is almost entirely governed by contracts. If the recipient of credit enters into a contract, the contents which he or she is oblivious or uncertain of, it would not be too bold to state that consensus would be lacking in such a case, and no valid contract would come into existence. This article aims to identify specific obligations placed upon the drafter of a contract of credit specifically by the , but also exposes some problems that may arise from the Act, as far as consensus as prerequisite for a valid contract is concerned.


Die 34 van 2005 het op 1 Junie 2007 in volle werking getree, en sodoende effektiewelik die Wet op 75 van 1980 en die 73 van 1968 vervang. Die hoofdoel van hierdie stuk wetgewing is die voorkoming van die toestaan van sogenaamde "reckless credit", om sodoende verbruikers te beskerm teen krediet wat onbestuurbaar is of mag word. Nietemin het die wet groot verantwoordelikhede op sekere gebiede van die reg geplaas, veral die kontraktereg. Die rede hiervoor is dat die verhouding tussen die verlener van krediet en die ontvanger daarvan feitlik geheel en al gereguleer word deur kontrakte. Indien die ontvanger van krediet 'n kontrak aangaan waarvan die inhoud vir hom of haar onseker is, sal dit geregverdig wees om te meld dat wilsooreenstemming ontbreek, en geen geldige kontrak derhalwe tot stand kom nie. Hierdie artikel poog om die verantwoordelikhede wat spesifiek aan die opsteller van 'n kredietooreenkoms toevertrou word deur die te identifiseer, maar openbaar ook sekere probleme wat deur die Wet veroorsaak word, spesifiek met betrekking tot wilsooreenstemming as voorvereiste vir 'n geldige kontrak.

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/content/juridic/33/2/EJC55602
2008-12-01
2016-12-08
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