The influence of the National Credit Act 34 of 2005 on the general principles of the South African law of contract

Abstract

The need for legislation simply means that common law challenges still persisted within the society. When the legislator drafts a piece of legislation, the reasonable inference that can be draw is that common law does not offer sufficient protection to the public. This means that during the enactment of the National Credit Act 34 of 2005 consumers were still not fully protected by the then existing credit laws. The question that begs the answer is, did the Act alter the common law and, if so, to what extent. This dissertation seeks to discuss the influence of the National Credit Act 34 of 2005 on the general principles of common law of contract. Focus will be on the common law requirements for a valid contract. To avoid any confusion, the words “general principles of the common law of contract” and “common law” will be used interchangeably, one referring to other. Note should be taken that this dissertation discusses the law as it is available up to November 2011. I say thank you to God (Almighty), my patient supervisor, Mr Stefan Renke and Mum for guidance and support in this dissertation. I would also like to thank University of Pretoria library assistants for their aid regarding sources. Copyright