Description
LPL4801 ASSIGNMENT 1 2026
DUE 18 MARCH 2026
Paul (P) concludes a written agreement purchasing a motor vehicle from S (Suzie), a
motor dealer, on 1 January. The agreement is concluded at S’s registered business
address. The purchase price of the vehicle is R400,000 and is payable in 20 equal
monthly instalments. The agreement also makes provision for P to pay at 15% interest
per annum to S in respect of the deferred purchase price. There is a term in the
(a) Advise P in full on whether the National Credit Act 34 of 2005 (“the NCA”) is
applicable to this agreement.
The agreement constitutes a “credit agreement” as defined in section 8 of the NCA. It
specifically qualifies as an “instalment agreement” as described in section 8(4)(c) of the
NCA.¹ An instalment agreement is defined as a sale of movable property where all or
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