Facts E agrees to sell to F (an individual) an item of furniture in reurn 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 " creditsale agreement" in section 189(1)). The credit provided amounts to £240 less the amount which, according to regulations made under section 20(1), constitutes the total charge for credit. (This amount is required to be deducted by section 9(4)). Accordingly the agreement falls within section 8(2) and is a consumer credit agreement.