Requirements for hire purchase to be enforceable

For hire purchase agreement to be enforceable, it must contain certain requirements.

With reference to the above statement, explain these requirements

Requirements for hire purchase to be enforceable are;-

  • Description of the parties.
  • Description of the goods.
  • The cash and hire purchase price.
  • Number of installments.
  • Amount when payable.
  • Rights of the hirer.
  • Signature of the hirer and by or on behalf of the owner.



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