The consumer's rescission right in terms of the National Credit Act 34 of 2005 : a comparison with similar rights in terms of other consumer protection legislation

Abstract

This dissertation concerns the right to rescind or cancel certain credit agreements in terms of section 121 of the National Credit Act 34 of 2005 (NCA). It aims to investigate the consumer's right to rescind a credit agreement in terms of section 121, read with regulation 37 of the NCA. It investigates and provides a brief explanation of the origins and underlying purposes of the cooling-off rights. Importantly, it concludes with a comparison of the cooling-off rights in the field of application of the NCA and similar rights in terms of other consumer protection legislation.