Definition of Hire purchase agreement. Meaning of Hire purchase agreement. Synonyms of Hire purchase agreement

Here you will find one or more explanations in English for the word Hire purchase agreement. Also in the bottom left of the page several parts of wikipedia pages related to the word Hire purchase agreement and, of course, Hire purchase agreement synonyms and on the right images related to the word Hire purchase agreement.

Definition of Hire purchase agreement

Hire purchase agreement
Hire purchase Hire purchase, or, more fully, Hire purchase agreement Hire purchase agreement, or Hire and purchase agreement Hire and purchase agreement (Law) A contract (more fully called contract of hire with an option of purchase) in which a person hires goods for a specified period and at a fixed rent, with the added condition that if he shall retain the goods for the full period and pay all the installments of rent as they become due the contract shall determine and the title vest absolutely in him, and that if he chooses he may at any time during the term surrender the goods and be quit of any liability for future installments upon the contract. In the United States such a contract is generally treated as a conditional sale, and the term hire purchase is also sometimes applied to a contract in which the hirer is not free to avoid future liability by surrender of the goods. In England, however, if the hirer does not have this right the contract is a sale.

Meaning of Hire purchase agreement from wikipedia

- hire purchase agreement was developed in the United Kingdom in the 19th century to allow customers with a cash shortage to make an expensive purchase...
- rather than consumer credit as a whole, such as moneylenders and hire-purchase agreements. Following the report of the Crowther Committee in 1971 it was...
- Hire-Purchase Act 1967 (Malay: Akta Sewa Beli 1967), is a Malaysian law which enacted to regulate the form and contents of hire-purchase agreements,...
- outstanding instalments due in terms of the hire purchase agreement. The seller’s hypothec under a hire purchase agreement secures the seller’s claim to outstanding...
- hire purchase agreement. Shogun Finance brought a claim against Mr Hudson for the return of its vehicle. Mr Hudson relied on section 27 of the Hire Purchase...
- Personal contract purchase (PCP), often referred to as a personal contract plan, is a form of hire purchase vehicle finance for individual purchasers...
- agreements could be advertised. One of the objectives of the Hire-Purchase Act 1938 had been to make sure that people entering into a hire-purchase agreement...
- rental, or bargain option purchase price). A finance lease has similar financial characteristics to hire purchase agreements and closed-end leasing as...
- terminate the agreement by simply returning the property (in a hire purchase the buyer has a limited time, if any, to cancel the agreement). The usage of...
- belong to the debtor; for example items that are subject to a hire purchase agreement, leased or rented from a third party. Goods that are joint owned...