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loan guarantor

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Hire Purchase: Procedure for Hire Purchase (With Diagram)

Steve Oke Chapchap Market No Comments

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Spread the love VIEWS: 256 Hire Purchase: Procedure for Hire Purchase (With Diagram) Article shared by :  ADVERTISEMENTS: Hire purchase involves a certain procedure, that is to say, modus operandi to be followed. For this, an agreement called hire purchase agreement is made in written between the parties involved in the hire purchase transaction. The agreement contains the following: (i) The hire purchase price of the goods to which the agreement relates; ADVERTISEMENTS: (ii) The cash price of the goods, that is to say, the price at which the good is purchased for cash; (iii) The date of the commencement of the agreement; (iv) The number and time interval of installments by which the hire purchase price is to be paid; (v) The name of goods, with its sufficient identity, to which the hire purchase agreement relates to; ADVERTISEMENTS: (vi) The amount to be paid, if any, at the time of signing the agreement; […]


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