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Consumer credit act 1995

  • 26-06-2008 5:39pm
    #1
    Our man in Havana
    Closed Accounts Posts: 29,473 ✭✭✭✭


    General question, not looking for legal advice.

    Is it necessary for a credit agreement to be physically signed by a consumer for the agreement to be valid?


Comments

  • #2
    Rhonda9000
    Closed Accounts Posts: 451 ✭✭Rhonda9000


    Bond-007 wrote: »
    General question, not looking for legal advice.

    Is it necessary for a credit agreement to be physically signed by a consumer for the agreement to be valid?

    From a cursory glance:

    s. 84 generally seems to set out the formalities; the agreement must state inter alia cash price, number of instalments, and that goods remain the property of the owner.

    s. 84(5)(b): a copy must be handed personally to hirer or sent to him within 10 days.

    The CCA 1995 oesn't seem to explicitly include a clause requiring hirers sig, although it would be folly to omit obviously enough.


  • #3
    Maximilian
    Legal Moderators, Society & Culture Moderators Posts: 5,400 Mod ✭✭✭✭Maximilian


    Bond-007 wrote: »
    General question, not looking for legal advice.

    Is it necessary for a credit agreement to be physically signed by a consumer for the agreement to be valid?

    Yeah it does (assuming the Act applies). Its in the Act somewhere but couldn't be arsed looking it up.


  • #4
    Our man in Havana
    Closed Accounts Posts: 29,473 ✭✭✭✭Our man in Havana


    The act would apply to credit cards?


  • #5
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,549 Mod ✭✭✭✭johnnyskeleton


    Even if it is, s.13 of the Electronic Commerce Act, 2000 would probably cover it.


  • #6
    Our man in Havana
    Closed Accounts Posts: 29,473 ✭✭✭✭Our man in Havana


    So that would cover banks that offer credit cards and other lending online?


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  • #7
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,549 Mod ✭✭✭✭johnnyskeleton


    Bond-007 wrote: »
    So that would cover banks that offer credit cards and other lending online?

    I would say so, although it's not a very clear piece of legislation, and cases that air these issues rarely crop up.

    Mind you, the question of how the CCA and the ECA work with each other is more complex and while it might cause regulatory difficulties for the banks, I don't think punters will be able to run amok and then claim that they never signed for the credit card as a defence.


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