Choma, HlakoKgarabjang, Tshegofatso2016-10-252016-10-252016To cite this article: Hlako Choma and Tshegofatso Kgarabjang (2016) : Risk and opportunities connected to the credit legislation on movable property : a case study, Risk Governance and Control: Financial Markets & Instiitutions, 6: 4, 157-1602077-429x2077-4303http://hdl.handle.net/11602/655The purpose of this paper is to determine to what extent should a lease of movable property fall within the ambits of the National Credit Act. The paper analyses the courts decisions regarding leases of movable properties, and further adds value to the existing scholarship. Courts are not ready to entertain extrinsic evidence in the cases where it contradicts the terms of an agreement. Parties should make sure that their contractual provisions are clear and unambiguous. Such provisions depict the notion that a lease of a movable property should fall within the ambits of the National Credit Act, hereinafter called NCA. And in such circumstances that qualifies it in terms of the Act ought to be met. In terms of section 8(4) of the NCA, a lease of movable property should by no means exclude the provision that ownership will pass to the lessee upon payment of the final rental instalment. Alternatively upon meeting certain conditions as determined by parties. One should therefore be able to differentiate leases in terms of the NCA and leases as defined by common law. Thus, one cannot try to qualify common law leases within the context of section 8(4) of the NCA where the original intention was an ordinary common law lease agreement. The Court in the case of ABSA Technology v Michael`s Bid House concluded that the NCA was not applicable to leases of movable property in certain circumstances. It is the findings of this paper that courts, recognize lease of movable property.enIncidental credit agreementRental AgreementNational Credit Act (NCA)Lease of movableCredit -- Law and legislationLoss controlArticleAuthor retain copywrightChoma H, Kgarabjang T. Risk and opportunities connected to the credit legislation on movable property : a case study. 2016; http://hdl.handle.net/11602/655.Choma, H., & Kgarabjang, T. (2016). Risk and opportunities connected to the credit legislation on movable property : a case study. http://hdl.handle.net/11602/655Choma, Hlako, and Tshegofatso Kgarabjang "Risk and opportunities connected to the credit legislation on movable property : a case study." (2016) http://hdl.handle.net/11602/655TY - Article AU - Choma, Hlako AU - Kgarabjang, Tshegofatso AB - The purpose of this paper is to determine to what extent should a lease of movable property fall within the ambits of the National Credit Act. The paper analyses the courts decisions regarding leases of movable properties, and further adds value to the existing scholarship. Courts are not ready to entertain extrinsic evidence in the cases where it contradicts the terms of an agreement. Parties should make sure that their contractual provisions are clear and unambiguous. Such provisions depict the notion that a lease of a movable property should fall within the ambits of the National Credit Act, hereinafter called NCA. And in such circumstances that qualifies it in terms of the Act ought to be met. In terms of section 8(4) of the NCA, a lease of movable property should by no means exclude the provision that ownership will pass to the lessee upon payment of the final rental instalment. Alternatively upon meeting certain conditions as determined by parties. One should therefore be able to differentiate leases in terms of the NCA and leases as defined by common law. Thus, one cannot try to qualify common law leases within the context of section 8(4) of the NCA where the original intention was an ordinary common law lease agreement. The Court in the case of ABSA Technology v Michael`s Bid House concluded that the NCA was not applicable to leases of movable property in certain circumstances. It is the findings of this paper that courts, recognize lease of movable property. DA - 2016 DB - ResearchSpace DP - Univen KW - Incidental credit agreement KW - Rental Agreement KW - National Credit Act (NCA) KW - Lease of movable LK - https://univendspace.univen.ac.za PY - 2016 SM - 2077-429x SM - 2077-4303 T1 - Risk and opportunities connected to the credit legislation on movable property : a case study TI - Risk and opportunities connected to the credit legislation on movable property : a case study UR - http://hdl.handle.net/11602/655 ER -