| 单词 | consumer credit |
| 释义 | consumer credit consumer credit lending to a CONSUMER, as opposed to a commercial enterprise. The words have a special significance because of the Con- sumer Credit Act 1974: 'An Act to establish for the protection of con- sumers a new system, administered by the Director General of Fair Trading, of licensing and other control of traders concerned with the provision of credit, or the supply of goods on hire or hire-purchase, and their transactions and related matters.' While 'consumer' is defined for the purposes of a consumer contract under the unfair contract terms legislation, there is no such definition on the 1974 Act. It provides controls where the debtor is a natural person or is an indi- vidual, including a partnership or unincorporated body of persons not consisting of bodies corporate.The Act is primarily concerned with (a) the control and regulation of the consumer credit industry by means of a licensing system, together with restriction on the ways of seeking business; and (b) the greater regulation of the rights of the parties under a con- sumer credit agreement. See CANCELLATION. |
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