Australian Capital Territory Consolidated Acts

LAY-BY SALES AGREEMENTS ACT 1963 - SECT 17

    (1)     If, at the time of the determination of a lay-by sale agreement, the total of—

        (a)     the amount of money paid by the buyer under the lay-by sale agreement; and

        (b)     the value of any other consideration provided by the buyer under the lay-by sale agreement; and

        (c)     the value of the goods at the time of the determination of the lay-by sale agreement;

exceeds the total of—

        (d)     the proportionate amount of the storage charge (if any) under the lay-by sale agreement, for the period for which the agreement has been in force; and

        (e)     an amount sufficient to recoup the seller for his or her selling costs in relation to the lay-by sale agreement; and

        (f)     the purchase price of the goods;

the buyer is entitled to recover from the seller the amount of the excess as a debt due and payable by the seller to the buyer.

    (2)     If the total of the amounts specified in subsection (1) (d), (e) and (f) exceeds the total of the amounts specified in subsection (1) (a), (b) and (c), the seller is entitled to recover from the buyer the amount of the excess as a debt due and payable by the buyer to the seller.

    (3)     Except as provided by subsection (2), if a lay-by sale agreement is determined, the buyer ceases to be liable to make any further payments under the lay-by sale agreement.

    (4)     If a lay-by sale agreement has been determined under section 15 or 16, the value of the goods at the time of the determination of the lay-by sale agreement shall be deemed to be—

        (a)     the purchase price of the goods; or

        (b)     the retail market selling price of the goods at the time of the determination, assuming, if the condition of the goods has deteriorated since the time when the property in the goods passed to the buyer, that their condition has not deteriorated;

whichever is the less.