Credit Hire Agreement

Zoan v Rouamba (CA TLR 7 March)

The Consumer Credit (Exempt Agreements) Order 1989 exempts from the Consumer Credit Act 1974 contracts which require payment within 12 months beginning with the date of the agreement. In counting time, the date the agreement was made should therefore be included. Accordingly an agreement which stated that payment was due ‘on the anniversary of the agreement’ and also that it was due ‘12 months after the date of the agreement’ did not come within the prescribed period and was therefore regulated by and unenforceable under the Act.