A lay-by is an interest free way to pay off goods while they are stored by the seller. Some sellers charge an administrative fee. The lay-by terms and conditions are set by the business. The price of the goods is the price on the day that the goods are first set aside.
It is lawful for a business to charge a reasonable termination fee (to recover their costs) if the consumer terminates or breaches the contract. The seller can also terminate the agreement if they are no longer in business or the goods are no longer available and the consumer is entitled to the return of all their money (ss 96–99 Australian Consumer Law).
Caxton Legal Centre Incorporated acknowledges the Jagera (Yuggera) and Turrbul peoples who are the Traditional Custodians of this land on which we work. We recognise the ongoing connection to the land, waters and community of the Traditional Custodians. We also recognise, respect and celebrate the cultural distinctions of the First Nations peoples and value their rich and positive contribution to Queensland and to broader Australian society. With respect we strive to achieve justice and inclusion for Aboriginal and Torres Strait Islander peoples.
The Queensland Law Handbook is produced by Caxton Legal Centre Inc (ABN 57 035 448 677) with the assistance of volunteers with legal experience in Queensland.
The Handbook is intended to give general information about the law in Queensland as at July 2016.
The content of the Queensland Law Handbook does not constitute legal advice, and if you have a specific legal problem, you should consult a professional legal advisor.
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