HirePurchase

What is hire-purchase agreement

2 min read

CIVIL

What is hire-purchase agreement

A hire-purchase agreement, being an agreement to hire coupled with an option (not an obligation) to purchase, developed in the middle of the nineteenth century as a means of financing the retail acquisition of furniture, sewing machines and musical...

Hire-purchase and distinction between hire-purchase agreements and credit-sale contracts

28 min read

CIVIL

Hire-purchase and distinction between hire-purchase agreements and credit-sale contracts

Hire-purchase agreement" means an agreement under which goods are let on hire and under which the hirer has an option to purchase them in accordance with the terms of the agreement; and includes an agreement under which-- (i) possession of goods...