Overview

debtor-creditor-supplier agreement


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A consumer-credit agreement regulated by the Consumer Credit Act 1974. It may be:(1) a restricted-use credit agreement to finance a transaction between the debtor and the creditor, which may or may not form part of that agreement (e.g. a purchase of goods on credit);(2) a restricted-use credit agreement to finance a transaction between the debtor and a supplier, made by the creditor and involving arrangements between himself and the supplier;(3) an unrestricted-use credit agreement that is made by the creditor under pre-existing arrangements between himself and a supplier in the knowledge that the credit is to be used to finance a transaction between the debtor and the supplier.

(1) a restricted-use credit agreement to finance a transaction between the debtor and the creditor, which may or may not form part of that agreement (e.g. a purchase of goods on credit);

(2) a restricted-use credit agreement to finance a transaction between the debtor and a supplier, made by the creditor and involving arrangements between himself and the supplier;

(3) an unrestricted-use credit agreement that is made by the creditor under pre-existing arrangements between himself and a supplier in the knowledge that the credit is to be used to finance a transaction between the debtor and the supplier.

Subjects: Law.


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