Legal development in hire-purchase transactions

Abstract

One cannot surely doubt the tremendous growth of the consumer credit business since the Second World War. The increased affluence of a large proportion of the population has raised the expectations of the family unit to such an extent that it is often impossible to satisfy the current needs and demands out of the present income and capital. This, allied with massive social pressures, partly fuelled by advertising, has forced many consumers to resort to the ever increasing number of providers of credit, be they public or private. Various types of credit a.re often available. The use of credit cards is on the increase in most countries, and this, not excluding Malta, though only a newcomer to this form of credit financing.