Credit Sale Agreement in United Kingdom
Definition of Credit Sale Agreement
In accordance with the work A Dictionary of Law, this is a description of Credit Sale Agreement : A contract for the sale of goods under which the price is payable by instalments but the contract is not a *conditional sale agreement, i.e. ownership passes to the buyer. A credit sale agreement is a *consumer-credit agreement; it is regulated by the Consumer Credit Act 1974 if the buyer is an individual, the credit does not exceed £25,000, and the agreement is not otherwise exempt.
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