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)
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