Tag: Credit
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Credit
Definition of Credit In accordance with the work A Dictionary of Law, this is a description of Credit : 1. The agreed deferment of payment of a debt. Under the Consumer Credit Act 1974, credit also includes any other form of financial accommodation, including a cash loa It does not include the […]
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Credit
Definition of Credit In accordance with the work A Dictionary of Law, this is a description of Credit : 1. The agreed deferment of payment of a debt. Under the Consumer Credit Act 1974, credit also includes any other form of financial accommodation, including a cash loa It does not include the […]
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Creditor
Definition of Creditor In accordance with the work A Dictionary of Law, this is a description of Creditor : 1. One to whom a debt is owed. See also judgment creditor; loan creditor; secured creditor; unsecured creditor. 2. (under the Consumer Credit Act 1974) The person providing credit […]
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Credit Sale Agreement
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 […]
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Credit Card
Definition of Credit Card In accordance with the work A Dictionary of Law, this is a description of Credit Card : A plastic card, issued by a bank or finance organization, that enables its holder to obtain credit when making purchases. The use of credit cards usually involves three contracts: […]
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Credit Limit
Definition of Credit Limit In accordance with the work A Dictionary of Law, this is a description of Credit Limit : 1. The maximum credit allowed to a debtor. 2. (under the Consumer Credit Act 1974) The maximum debit balance allowed on a running-account credit agreement during any period.