Victorian Consolidated Legislation

Credit Act 1984 - SECT 14

Certain contracts not credit sale contracts

14. Certain contracts not credit sale contracts



(1) For the purposes of this Act, a reference to a credit sale contract does
not include-

   (a)  a reference to a contract of sale of goods or services in respect of
        the payment for which credit is, or is to be, provided under a
        continuing credit contract; or

   (b)  a reference to a lay-by sale within the meaning of subsection (2).

(2) A reference in subsection (1) to a lay-by sale is a reference to a sale of
goods, or an agreement to sell goods, under conditions, express or implied,
which provide that-





   (a)  any of the goods sold or agreed to be sold will not be delivered to
        the purchaser until the purchase price is paid for the goods to be
        delivered, whether or not any charge is expressed to be payable for
        storage of the goods; and

   (b)  the purchase price or, where a deposit is paid, the balance of the
        purchase price-

   (i)  is to be payable by instalments (whether the number of instalments or
        the amount of all or any of the instalments is fixed by those
        conditions or is left at the option of the purchaser) payable over a
        fixed or ascertainable period; or

   (ii) is to be paid at the expiration of a fixed or ascertainable period
        with an option, express or implied, for the purchaser to make payments
        in respect of the purchase price during that period.