Consumer Law
COL3704
Semesters 1 & 2
Department of Mercantile Law
IMPORTANT INFORMATION:
Please activate your myUnisa and myLife e-mail addresses and ensure that you have regular
access to the myUnisa module site COL3704-2021-S1 (if you are registered for the first
semester) or COL3704-2021-S2 (if you are registered for the second semester).
Note: This is an online module which is available on myUnisa. You will, however, also
receive some study material in print format to support you in your learning process.
Printed and published by the
University of South Africa
Muckleneuk, Pretoria
COL3704/501/3/2021
10001271
Downloaded by jeremy ziegelaar (jaziegelaar@gmail.com)
, lOMoARcPSD|10071203
CONTENTS
1. INTRODUCTION .......................................................................................................................... ix
2. PRESCRIBED READING MATERIAL .......................................................................................... ix
2.1 Section A: The National Credit Act 34 of 2005 .............................................................................. ix
2.2 Section B: The Debt Collectors Act 114 of 1998 ........................................................................... ix
2.3 Section C: The Consumer Protection Act 68 of 2008 .................................................................... ix
2.4 Section D: Stokvels ....................................................................................................................... ix
2.5 Section E: Insurance ..................................................................................................................... x
3. THE STRUCTURE OF THE TUTORIAL LETTER........................................................................ x
4. THE STRUCTURE OF EACH STUDY UNIT ................................................................................ xi
5. SUGGESTED LEARNING SCHEDULE FOR THIS MODULE ....................................................xii
SECTION A: The National Credit Act 34 of 2005 ...............................................................................xiii
UNIT 1: SCOPE AND APPLICATION OF THE NATIONAL CREDIT ACT ............................................ .1
1. INTRODUCTION ........................................................................................................................ ..1
2. THE PURPOSE OF THE NCA.................................................................................................... ..2
3. APPLICATION OF THE ACT ..................................................................................................... ..2
3.1 Credit agreements ...................................................................................................................... ..2
3.1.1 Credit facility ............................................................................................................................... ..3
3.1.2 Credit transaction ........................................................................................................................ ..3
3.1.3 A credit guarantee....................................................................................................................... ..5
3.2 Parties ........................................................................................................................................ ..6
3.2.1 The consumer ............................................................................................................................. ..6
3.2.2 The credit provider ...................................................................................................................... ..7
3.3 Dealing at arm’s length ............................................................................................................... ..9
3.4 Exclusions .................................................................................................................................. ..9
4. SIZE OF THE AGREEMENT ...................................................................................................... 10
4.1 Small credit agreements ............................................................................................................. 10
4.2 Intermediate credit agreements................................................................................................... 10
4.3 Large agreements ....................................................................................................................... 10
5. CONCLUSION ............................................................................................................................ 11
UNIT 2: CONSUMER RIGHTS ............................................................................................................... 13
1. INTRODUCTION ........................................................................................................................ 13
2. CONSUMER RIGHTS ................................................................................................................ 13
iii
Downloaded by jeremy ziegelaar (jaziegelaar@gmail.com)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LOVELY01. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £2.44. You're not tied to anything after your purchase.
