BMW Financial Services v De Lange (A3063/03)
BMW Financial Services v De Lange (A3063/03) [2004] ZAGPHC 19 (27 January 2004)
The court found that the appellant failed to discharge the onus of proving that the repayments under the instalment sale agreement were tax deductible as required for the exemption under Regulation 4(1) of the Credit Agreements Act. The mere assertion or agreement between the parties does not establish the necessary purpose for which the purchase was made, nor does it prove tax deductibility. The evidence indicated the vehicle was for private use, and the respondent's car allowance did not automatically render repayments tax deductible. Consequently, the agreement was invalid and unenforceabl…
Source excerpt
- Credit Agreements Act
- Instalment Sale Agreement
- Tax Deductibility
- Onus Of Proof