Credit Agreement Resolutive Condition
Pactum reservati dominii
2. Facts of the case and the issues to be decided 4
3. Validity and effects of pactum reservati dominii in the present case 5
Conclusion 7
References 8
Table of Cases
Quirk’s Trustees v Assignees of Liddle & Co. (1884 – 1885) 3 SC 322
Courtney-Clarke v Bassingthwaighte 1990 NR 89 (HC)
Smith & Venter v Fourie 1946 WLD 9
R v Ellinas 1949 (2) SA 45
Gosvenar Motors v Samson 1956 (3) SA 169
National Motors v Fall 1958 (2) SA 570
Introduction
The law governing credit transactions is the Credit Agreement Act 75 of 1980 (hereinafter referred to as the Act) which replaced the Hire-Purchase Act 36 of 1942 as a result of Proclamation AG 17/1981 which states that “Subject to the provisions of this Proclamation, the Credit Agreements Act, 1980 shall apply to the territory of South West Africa.” The act regulates transactions where movable goods are purchased or leased on credit. It also applies to services rendered on credit. According to the Act, a credit agreement is a credit transaction or a leasing transaction or any transaction with the same import regardless of its form or regardless of the fact that the transaction(s) is subject to resolutive or suspensive conditions. For the purpose of this assignment, I will only discuss issues pertaining to credit transaction because the case of Quirk’s Trustees which is central to the question whether there is sale before the last assignment is paid falls with the ambit of this paper. A credit transaction according to the Act includes ‘goods sold and services rendered against payment of a stated of determinable future date or in whole or in part in instalments over a period in future’. Section 1 (b) states that the “goods” shall mean movable goods or in other words movable property. This point is significant given the nature of the problem we are faced with of whether a contract of sale by credit exists.
1. Pactum reservati dominii
Before looking at the facts in the
2. Facts of the case and the issues to be decided 4
3. Validity and effects of pactum reservati dominii in the present case 5
Conclusion 7
References 8
Table of Cases
Quirk’s Trustees v Assignees of Liddle & Co. (1884 – 1885) 3 SC 322
Courtney-Clarke v Bassingthwaighte 1990 NR 89 (HC)
Smith & Venter v Fourie 1946 WLD 9
R v Ellinas 1949 (2) SA 45
Gosvenar Motors v Samson 1956 (3) SA 169
National Motors v Fall 1958 (2) SA 570
Introduction
The law governing credit transactions is the Credit Agreement Act 75 of 1980 (hereinafter referred to as the Act) which replaced the Hire-Purchase Act 36 of 1942 as a result of Proclamation AG 17/1981 which states that “Subject to the provisions of this Proclamation, the Credit Agreements Act, 1980 shall apply to the territory of South West Africa.” The act regulates transactions where movable goods are purchased or leased on credit. It also applies to services rendered on credit. According to the Act, a credit agreement is a credit transaction or a leasing transaction or any transaction with the same import regardless of its form or regardless of the fact that the transaction(s) is subject to resolutive or suspensive conditions. For the purpose of this assignment, I will only discuss issues pertaining to credit transaction because the case of Quirk’s Trustees which is central to the question whether there is sale before the last assignment is paid falls with the ambit of this paper. A credit transaction according to the Act includes ‘goods sold and services rendered against payment of a stated of determinable future date or in whole or in part in instalments over a period in future’. Section 1 (b) states that the “goods” shall mean movable goods or in other words movable property. This point is significant given the nature of the problem we are faced with of whether a contract of sale by credit exists.
1. Pactum reservati dominii
Before looking at the facts in the
References: R R Pennington Retention of Title to the Sale of Goods under European Law The International and Comparative Law Quarterly, Vol. 27, No. 2 (Apr., 1978), 277- 318. C Visser, JT Pretorius, R Sharrock and M van Jaarveld Gibson South African Merchadile & Company Law 8th ed. Cape Town: Juta & Co