Consumer credit Flashcards
Koksal v FCA
The company must cooperate to be authorised
Heath v Southern Pacific Mortgage ltd
From the terms of the agreement you must be able to find out if there is two or more parts
Brophy v HFC bank
By signing the application form and returning it to the bank Mr B applies for credit and offered to be bound by the T&Cs
Forthright Finance v Ingate
Debtors rap that would lay off debt was statement made in relation to sale of fiat and thus made finance company liable to pay off other finance company
The dealer as a credit broker is seen to be an agent of the creditor in respect of antecedent negotiations- Whatever he says binds the finance company
Carey v HSBC
Way info is provided should not be formulated to mislead the debtor as to what he has agreed to
McGuffick v The royal bank of Scotland
The courts recognised that although statute may render agreement unforceable, the agreement remains valid and subsisting even if unenforced by the creditor
You can stop paying when they are not complying by giving you info
Paragon Finance Plc v Nash and Staunton
Implied term that power to vary interest would be exercised in a reasonable manner
If the term existed then there’s a power to very interest in reasonable manner - can not be dishonest, improper or unreasonable
Dirk in v DSG retail ltd
S75 gives D’s with claim against suppliers a like claim against the creditors (curry’s laptop- curry’s and MasterCard jointly and severably liable)
Moorgate services ltd v Humayum kabir
Duty to give notice of cancellation rights
Forward trust ltd v whymack
Early payment of debts and rebate
S94&95 that a debtor can discharge his indebtedness early and be entitled to a rebate reflecting the unearned insterest element
