Modifying agreements and required prescribed terms

[stigger74]

I am trying to find out about Modifying agreements, realistically struggling at this moment in time.

Background to this, is I have a modifying agreement which im trying to confirm which terms should be present or not.

The agreement would be pre 2007, and does not include 1 major prescribed term for a normal agreement.

so the agreement has been modified under section 82 (1). and is regulated. so section 82 (2) b should then apply?




What I need to confirm is that 82 (3) does not apply ,which is where im struggling to understand as follows


82 (3) If the earlier agreement is a regulated agreement but(apart from this subsection) the modifying agreement is not then, unless the modifying agreement is for running account credit, it shall be treated as a regulated agreement.

If this does apply then it removes the section 61/127 (3) as prescribed terms and in effect the creditor can change an agreement with out the worry of breaching this area?

If this is the case then does this not create an unfair terms area?

Feel like im going mad trying to get to grips with this, any body have any ideas please

[stigger74]

Re: Modifying agreements and required prescribed terms

Not anybody with this one, Modifying agreements must be about, and someone must have some knowledge about them ?

[mystery1]

Re: Modifying agreements and required prescribed terms

http://www.bailii.org/ew/cases/Misc/2012/14.html

M1

[stigger74]

Re: Modifying agreements and required prescribed terms

Thank you just what I needed to strengthen the skeleton arguments some more .


At the moment I have an agreement which changed 2 areas of the original agreement with in a modifying agreement. There is no ref to credit limit or how worked out.