Australian Capital Territory Repealed Acts

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This legislation has been repealed.

CREDIT ACT 1985 (REPEALED) - SECT 21

Contract of sale conditional on grant of credit

    (1)     If a buyer, before entering into a contract of sale of goods and services, makes known to the supplier that he or she requires credit to be provided in relation to payment for the goods and services and the credit is not provided by the supplier, the buyer, if he or she takes reasonable steps to obtain the credit but does not obtain the credit may, within a reasonable period after the contract is made, by written notice given to the supplier, rescind the contract.

    (2)     If a buyer has purported to rescind a contract of sale as referred to in subsection (1), the court may, on the application of the supplier or the buyer, declare whether or not the purported rescission was valid and, if it declares that the rescission was valid, may—

        (a)     on the application of the supplier or the buyer, if there is a dispute about the return of the goods to the supplier, make an order relating to the return of the goods; and

        (b)     if the contract of sale included terms relating to the compensation of the supplier for loss suffered because of the delivery of the goods to the buyer—make an order relating to the payment of compensation.



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