A loan that refinances or substitutes a personal obligation for what was originally a business loan does not change the character of the credit to 'personal purposes' under s 6(1)(b) of the Consumer Credit Code; the court looks to the substance and reality of the transaction. Delay in applying to set aside a default judgment is of very little weight absent prejudice that cannot be overcome. There is no rule requiring a 'justifiable explanation' for failing to enter an appearance.
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4 of the 22 citing cases carry a classified treatment. How each court treated it is available to signed-in members.