Consumer Credit II

Abstract

<p>This issue outlines the key perspectives of consumer credits on hire purchases as well as credit card transactions in two key parts. The first part discusses concept of a hire purchase agreement, including the title and rights of both the owner and the hirer. Featuring both the credit sale agreements and conditional sale agreements, the issue demonstrates how the two types of hire purchase agreements are respectively affected by the common law and the Sales of Goods Ordinance (Cap 26). It also highlights the leading case law from UK and also some current cases held by Hong Kong courts. The second part of this issue focuses on credit cards. This includes the updates on the interest rate limit in the Money Lenders Ordinance, as well as relevant provisions in the Code of Banking Practice. In addition, captures the key points regarding the duty and obligations of both the banks and the credit card holders, plus the handling of credit card frauds.<br></p>