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LPL4801 Assignment 1 (ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED R50,00
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LPL4801 Assignment 1 (ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED
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Well-structured LPL4801 Assignment 1 (ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). Paul (P) concludes a written agreement purchasing a motor vehicle from S (Suzie), a motor dealer, on 1 January. The agreement is concluded at S’s registered busin...

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  • January 15, 2024
  • February 2, 2024
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LPL4801
Assignment 1 Semester 1 2024
Unique Number: 569476
Due Date: 15 March 2024

QUESTION 1

a. (2 ANSWERS PROVIDED)

The National Credit Act 34 of 2005 (NCA) is applicable to all credit agreements that satisfy
certain conditions. According to Section 8 of the NCA, an arrangement is considered a
credit agreement if it includes delayed repayment or an early payment option, along with
the imposition of fees, interest, or charges for the delay, or a discount for early payment.
The High Court in Voltex (Pty) Ltd v Chenleza CC (2010) determined that without interest
or fees for deferred payment, an agreement does not qualify as a credit agreement under
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