Hire-purchase and conditional sale – sales of goods, Business Law and Ethics

Hire-Purchase and Conditional Sale – Sales of Goods

Conditional Sale is an agreement for the sale of goods like in which the purchase price or part about it is payable through instalments and the property in such type of the goods is to remain in the seller like notwithstanding that the buyer is in possession that like conditions such to the payment of instalments or until otherwise such may be specified in the agreement are fulfilled there.

The distinguishing feature however is that this is really a contract of sale where payment is by instalments while the hire purchase agreement is a contract of hiring with an option to purchase. However A conditional sale is such a sale right from the start but maturing on the fulfilment of certain conditions set out in the agreement while a hire purchase is a contract of hiring which becomes a sale only upon the exercise of the option to purchase. Conversely the parties in a conditional sale are seller and buyer as opposed to owner and hirer under the hire purchase agreement.

Posted Date: 2/1/2013 5:35:51 AM | Location : United States







Related Discussions:- Hire-purchase and conditional sale – sales of goods, Assignment Help, Ask Question on Hire-purchase and conditional sale – sales of goods, Get Answer, Expert's Help, Hire-purchase and conditional sale – sales of goods Discussions

Write discussion on Hire-purchase and conditional sale – sales of goods
Your posts are moderated
Related Questions
What is the territorial sovereignty The territorial sovereignty includes the land territory, the territorial sea, the seabed and the subsoil of the territorial sea. It also inc

Gains from Policy Coordination The previous section has illustrated how large countries typically face positive or negative spill over effects associated with aggregate demand

What is meaning of Relative Price Effects This final linkage occurs when there is free exchange rate between countries, which means the exchange rate is allowed to appreciate o

Right to sell - Terms used in Contract With S.14 (a) provides that there is an implied condition such seller has a right for sell the goods and, like in the case of an agreeme

Classification of Companies: Section 389 of the Companies Act provides that "no company there association or may partnership consisting of more than twenty persons shall be fo

The Laws of Contract DSL Limited decide to buy a ferry on operate it between CMI and Downtown, Kingston. They did not have enough money to buy the vessel, so they borrow some from

The below is a scenario in which I have to make an IRAC for (not sure if you know what that is) but read the scenario and see if "Faye" is able to leave legally without ramificat

Unity and continuity of domicile Conversely S.10 of the Act provides such no person may have more than one domicile at any one time and no person shall be deemed for be witho

QUESTION The Employment Rights Act provides- No employer shall terminate a worker's agreement for reasons related to the worker's misconduct unless the worker has been affor

Estoppel - Law of Agency and Partnership Further the basis of estoppel was explained through the court like Spiro v. Lintern  in giving such; "Where a man is below a duty -