LPL4801
Assignment 1 Semester 1 2024
Detailed Solutions, References & Bibliography
Unique number: 569476
Due Date: 15 March 2024 @12:00
QUESTION 1
a. (2 ANSWERS PROVIDED)
The National Credit Act 34 of 20051 applies to all credit agreements. Section 8 of the NCA
provides that an agreement will be a credit agreement for the purposes of the NCA, if two
elements are present, namely:
• some deferral of repayment or prepayment, and
• there is a fee, charge, or interest imposed with respect to a deferred payment, or a
discount given when prepayments are made.
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