Victorian Consolidated Legislation

Credit Act 1984 - SECT 31

Contracts to be in writing

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.