Consequences of not registering a hire purchase agreement

Identify three consequences of not registering a hire purchase agreement Consequences of not registering a hire purchase agreement The agreement cannot be enforced by any person against the hirer. Any contract of guarantee made in relation to the hire purchase agreement is also unenforceable. The owner cannot enforce the right to reposes the goods from

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Explanation of the term hire “purchase”

Explain the term hire “purchase” The hire purchase act implies some terms in every hire purchase agreement. One of these terms is merchantability. This is a Explanation of the term hire “purchase” Hire purchase is a method of buying goods in which the purchaser takes possession as soon as he has paid an initial installment

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Meaning of hire purchase agreement

Explain the meaning of the term “hire purchase agreement” Meaning of hire purchase agreement Hire purchase is a method of buying goods in which the purchaser takes possession as soon as he has paid an initial installment of the price, that is, deposit and obtains ownership when he has paid all instalments.

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Effects of non-registration of a hire purchase agreement

Outline the legal effects of non-registration of a hire purchase agreement Effects of non-registration of a hire purchase agreement The agreement becomes void The owner cannot enforce his rights against the hirer. The owner is liable to return all the money paid back to hirer. Any contract of guarantee relating to the hire purchase agreement

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