Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(see s 7)
AUSTRALIAN CAPITAL TERRITORY
SUMMARY OF SECTIONS 5, 7, 12, 15, 16 AND 17 OF THE LAY-BY SALES AGREEMENTS ACT
1. The seller of goods under a lay-by sale agreement is required to hand to the buyer, at the time the agreement is made, the following documents:
(a) a sales docket stating a description of the goods including, where the goods are second-hand goods, a statement that the goods are second-hand goods, the price of the goods and the recorded number of the lay-by sale agreement;
(b) a copy, signed by the seller or the person who enters into the agreement on his or her behalf, of the terms and conditions of sale, not being terms and conditions implied by law; and
(c) a copy of this Summary.
2. Any agreement made between the seller and buyer varying, or adding to, the terms and conditions of the lay-by sale agreement, as stated in the copy of them handed to the buyer at the time of the making of the agreement, is voidable at the option of the buyer.
3. The buyer has the right to inspect, at any reasonable time, the goods that have been labelled and set aside for him or her under the lay-by sale agreement and the entry relating to the lay-by sale agreement in the records of lay-by sales agreements kept by the seller. If the seller fails to label and set aside the goods after they have been approved by the buyer or to allow the buyer to inspect the goods or the records relating to the lay-by sale agreement, the buyer may avoid the lay-by sale agreement and claim the return of any moneys he or she has paid to the seller.
4. Notwithstanding any agreement to the contrary, a seller shall not, in the exercise of a power expressly or impliedly conferred on him or her under the terms of a lay-by sale agreement, determine the lay-by sale agreement unless—
(a) he or she gives notice of his or her intention so to do by serving on the buyer, at the last address of the buyer known to him or her, a notice of his or her intention to determine the lay-by sale agreement;
(b) he or she specifies, in the notice, the date, not being a date earlier than 14 days after the service of the notice, upon which he or she intends to determine the lay-by sale agreement;
(c) he or she serves on the buyer, at the same time as he or she serves the notice of his or her intention to determine the lay-by sale agreement, a statement in writing signed by him or her specifying—
(i) the purchase price of the goods under the lay-by agreement;
(ii) the amount of the storage charge, if any, at the date on which it is intended to determine the lay-by sale agreement;
(iii) the total amount of moneys paid, or the value of any other consideration provided, towards the purchase price by the buyer;
(iv) the amount that the seller estimates is sufficient to recoup him or her for selling costs in respect of the lay-by sale agreement;
(v) the balance payable by the owner to complete the lay-by sale agreement; and
(vi) the balance, if any, which the seller estimates to be the amount to be due to the buyer in accordance with clause 8 of this Summary.
5. If, on or before the date specified, in the notice of intention to determine the lay-by sale agreement as the date on which the seller intends to determine the lay-by sale agreement, the buyer tenders to the seller the balance due in respect of the purchase price of the goods and the storage charge under the lay-by sale agreement, if any, the seller shall deliver the goods to the buyer.
6. Notwithstanding any agreement to the contrary, the buyer may, at any time before the lay-by sale agreement is completed or determined, determine the lay-by sale agreement by serving, at the place of business of the seller, a notice in writing of his or her intention to determine the lay-by sale agreement and, if the buyer so serves such a notice, the lay-by sale agreement shall be determined from the date of service of the notice, or, where a date later than the date of service is specified in the notice as the date on which the lay-by sale agreement shall be determined, from that later date.
7. If—
(a) the buyer serves on the seller a notice in writing of his or her intention to determine the lay-by sale agreement;
(b) the buyer requests the seller to furnish him or her with a statement under subsection (2) of section 16 of the Lay-by Sales Agreements Act; and
(c) the buyer pays or tenders to the seller the sum of 20 cents;
the seller shall, within 7 days after receiving the request, make available to the buyer a statement signed by the seller stating the same particulars in respect of the lay-by sale agreement as are required in the statement that the seller is required to serve on the buyer if the seller intends to terminate the lay-by sale agreement ( see 4 paragraph 4 (c) of this Summary).
8. Where, at the time of the determination of a lay-by sale agreement, the total of—
(a) the amount of moneys paid by the buyer under the lay-by sale agreement;
(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 amount of the storage charge, if any, under the lay-by sale agreement;
(e) an amount sufficient to recoup the seller for his or her selling costs in respect of 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.
9. Where the total of the amounts specified in paragraphs 8 (d), (e) and (f) exceeds the total of the amounts specified in paragraphs 8 (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.
10. Except as provided in clause 9, where a lay-by sale agreement is determined, the buyer ceases to be liable to make any further payments under the lay-by sale agreement.
11. Where a lay-by sale agreement has been determined under section 15 or 16 of the Lay-by Sales Agreements Act, 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, in a case where 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.