LPL4801 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (526694) - DUE 26 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us .
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Exam (elaborations)LPL4801 Assignment 1 (ANSWERS) Semester 2 2024 – DISTINCTION C GUARANTEED ourse• Law of Sale and Lease (LPL4801)• Institution• University Of South Africa (Unisa)• Book•...
According to Section 8 of the NCA, a credit agreement can be categorized as a credit facility,
credit transaction, or credit guarantee. In this case, the agreement in question appears to be a
credit facility.
Definition and Elements of a Credit Facility
As per Section 8(3) of the NCA, a credit facility is defined by three primary elements:
1. Supply of Goods or Services: The credit provider undertakes to supply goods or
services, or to pay amounts to the consumer, on behalf of the consumer or at the
consumer's direction.
2. Deferred Payment: The credit provider defers the consumer’s obligation to pay any part
of the cost of the goods or services, or to repay any amount advanced, or bills the
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