§ Facts. E agrees to sell to F (an individual) an item of furniture in return for 24 monthly instalments of £10 payable in arrear. The property in the goods passes to F immediately.
§ Analysis. This is a credit-sale agreement (see definition of "credit-sale agreement" in section 184(1)). The credit provided amounts to £240 less the amount which according to regulations 343 made under section 20(1), constitutes the total charge for credit. (This amount is required to be deducted by section 9(3)). Accordingly the agreement falls within section 8(1A) and is a consumer credit agreement.