Consumer Credit in UK Law

Leading Cases
  • Dimond v Lovell
    • House of Lords
    • 11 May 2000

    Parliament intended that if a consumer credit agreement was improperly executed, then subject to the enforcement powers of the court, the debtor should not have to pay. This meant that Parliament contemplated that he might be enriched and I do not see how it is open to the court to say that this consequence is unjust and should be reversed by a remedy at common law: compare Orakpo v. Manson Investments Ltd. [1978] A.C. 95.

  • National Westminster Bank Plc v Morgan
    • House of Lords
    • 07 Mar 1985

    The fact of an unequal bargain will, of course, be a relevant feature in some cases of undue influence. And even in the field of contract I question whether there is any need in the modern law to erect a general principle of relief against inequality of bargaining power. I doubt whether the courts should assume the burden of formulating further restrictions.

  • Wilson v First County Trust Ltd (No 2)
    • House of Lords
    • 10 Jul 2003

    In my view, thus framed, the complaint does not bring article 6(1) into play. In terms of labels, that is a restriction on the scope of the rights a creditor acquires under a regulated agreement. It does not bar access to court to decide whether the case is caught by the restriction. But in taking that power away from a court the legislature was not encroaching on territory which ought properly to be the province of the courts in a democratic society.

    In my view, consistently with the underlying objective of article 1 of the First Protocol, the relevant provisions in the Consumer Credit Act are more readily and appropriately characterised as a statutory deprivation of the lender's rights of property in the broadest sense of that expression than as a mere delimitation of the extent of the rights granted by a transaction.

    The legislation must not only have a legitimate policy objective. The court must decide whether the means employed by the statute to achieve the policy objective is appropriate and not disproportionate in its adverse effect. This involves a 'value judgment' by the court, made by reference to the circumstances prevailing when the issue has to be decided. It is the current effect and impact of the legislation which matter, not the position when the legislation was enacted or came into force.

  • Office of Fair Trading v Lloyds TSB Bank Plc
    • Queen's Bench Division (Commercial Court)
    • 12 Nov 2004

    "The fact that the supply contract is governed by foreign law would not appear to affect the creditor's liability under s 75 of the Act, assuming that the credit agreement is itself within the Act and is not exempt … Thus, a bank issuing a credit card under a regulated consumer credit agreement will be liable under s 75 if the cardholder uses the card abroad to purchase goods or obtain services and the supplier commits a misrepresentation or breach of contract.

  • Jarrett v Barclays Bank Plc
    • Court of Appeal (Civil Division)
    • 31 Oct 1996

    In my view, in the light of those statements of principle, these actions do not have as their object tenancies of immovable property. In each action the foundation for the claim against the Bank under s.75 (and in the case of the Jarretts s.56 also) is the debtor-creditor-supplier agreement.

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Legislation
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Books & Journal Articles
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Law Firm Commentaries
  • SRA adopts consumer credit proposals
    • JD Supra United Kingdom
    The SRA Board has adopted proposals for consumer credit regulation for solicitors. The proposals are that solicitors should be able to carry out certain consumer credit activities under SRA authori...
  • Who’s driving consumer credit growth?
    • LexBlog United Kingdom
    The FCA has published its latest insight article entitled Who’s driving consumer credit growth? To build a better picture of what is driving consumer credit growth the FCA requested credit referenc...
  • FCA publishes consumer credit guides
    • JD Supra United Kingdom
    FCA has published guides to help firms that are applying for permission to carry on a consumer credit regulated activity on various parts of the application form, specifically: ...
  • Consumer Credit
    • Mondaq United Kingdom
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