Property and Securities Law

Property and Securities Law

Introduction

This paper intends to explore the topic of credit contracts and intellectual property. The main focus of this paper is to answer the two different questions that are based on the given scenarios. One of the scenarios is based on credit contracts while the other scenario is based on intellectual property.

Discussion

Explain in overview the requirements of the Act in relation to the areas of initial disclosure, reopening of oppressive credit contracts and unforeseen hardship of the debtor, relevant to the above facts.

Credit Contracts Act 1981

Credit agreement

The credits are related to a variety of operations that are possible to achieve by providing a different type of loan, without the need for immediate payment. Although the transfer of money can be freely available, credit interest here is linked to the production and distribution of goods, receiving the name of trade credit. The credits play an important role in economic transactions they allow carrying out otherwise would not be possible to perform, or would be slower.

Characteristics

As commercial credit or commercial character of the contract is onerous with rights and obligations for parties involved (therefore not free). In addition, this type of contract has the following characteristics.

· Domain transfer is to transfer ownership of money or fungible.

· It is unique in that no other need for contracts.

· It periodic execution, ie not necessarily make deliveries once.

· Is also commutative, liable to vary by agreement of the parties by variation of the rights and

The credit agreement requires mutual or these parts.

A lender or creditor or lender as the person giving the loan, and the ability to do so.

From a receiver or debtor or borrower as the person receiving the loan, and the ability to do so.

It may also appear in the contract a guarantor or surety for the repayment of the loan, or pledge of property as security for this purpose.

Although the transaction is finally translated into money, this will not necessarily be in cash, may be in documents or by transferring assets acquired loan account, usually consumables. Such transfer is the return price plus interest that the creditor must pay. Theoretically, the interest rate charged by the lender is directly related to that charged by the Central Bank to lend money to these entities. It is usual for the interest, the addition of other obligations as commissions, taxes or expenses.

The cause or delivery of money or fungible goods is varied and is expressed as consent of the parties. Regarding the shape, the contract is written burdensome given the characteristic thereof.

Credit Contract Act 1981

Credit Information Bureau was established by the banks and the Bank Association under Credit Contract Act 1981. The Banking Law to allow banks to meet together with the chambers of commerce to establish the institution authorized to collect, process and provide banks with information subject to banking secrecy in the extent that such information is required in connection with the performance of banking activities, as well as other institutions authorized by law to ...