New South Wales Consolidated Acts

CREDIT ACT 1984 - SECT 31

31 Contracts to be in writing

(1) Subject to subsection (2), a credit provider shall not enter into a credit sale contract or a loan contract that is not in writing signed by the debtor.

Penalty: 10 penalty units.

(2) Subsection (1) is not contravened if a credit sale contract or a loan contract is made by the acceptance of an offer in writing signed by the debtor to the credit provider to enter into the contract.