ABSTRACT

If the rules affecting the form of regulated agreements are not followed, the creditor or owner will be prevented from enforcing the agreements:

the terms of the agreement must be in writing and must be legible;

the cash price of the goods must be stated in the agreement;

it must provide for payment of equal instalments at equal intervals and must include reference to the method of payments;

it must include a description of the goods sufficient to identify them;

the agreement must contain certain statutory notices, eg right to terminate or cancel the agreement;

it must be typewritten; there must be space for a signature in a box outlined in red.