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PROVISIONS OF HIRE PURCHASE ACT (1975) — Commerce Keypoint

PROVISIONS OF HIRE PURCHASE ACT (1975)

  1. The seller must make known to the hire purchaser the cash price of the good in question and its hire purchase price so that the hire purchaser can know the difference.
  2. The hire purchaser has the right to refute or cancel the hire purchase agreement within three days if he was made to sign it in his own place.
  3. The seller can only re-possess the commodity bought under hire purchase through a court order if the hire purchaser defaults in the installment payments.

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