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.