Information which must be contained in a written memorandum of hire purchase

Explain the information that must be contained in the written memorandum of a hire purchase agreement for the agreement to be enforceable

The following information must be contained in a written memorandum of hire purchase

  • A statement of the hire-purchase price and the cash price of the goods to which the agreement relates.
  • The amount and the dates of payment of each installment.
  • A notice setting out the hirer’s right under the contract.
  • A copy of the contract that must be sent to the hirer within twenty one days of execution.
  • Names of the parties.



Share through

Leave a Reply

Your email address will not be published.