Victorian Consolidated Legislation

Credit Act 1984 - SECT 77

Right to revoke offer is paramount

77. 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, by reason of subsection (1) is void.

Penalty: 20 penalty units.