Queensland Consolidated Acts

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CREDIT ACT 1987 - SECT 78

78 Right to revoke offer is paramount

(1) A provision in an agreement to the effect that a person does not have a right to revoke an offer to enter into a regulated contract--

(a) before the offer is accepted; or
(b) in a case where, at the time of the acceptance, the person could not reasonably be expected to know that the offer had been accepted, before notice is given of the acceptance;

or that such a right is restricted or modified, is void.

(2) A credit provider shall not enter into an agreement that includes a provision that, because of subsection (1), is void.

Maximum penalty--40 penalty units.



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