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
A) As members of the WTO, recognize three (3) shared interests Japan, the EU, the USA and China all share.   B) A court only requires to have personal jurisdiction over a par

Question 1 Consider you are the manager of a banking organisation. You find negligence Question 2 Explain the conflicts involved in decision making Question 3 Consider a

QUESTION 1 One of the main ingredients of a system of collective bargaining is the right to join and participate in the activities of a trade union. What is the extent of this

Question 1: Arbitration, a form of alternative dispute resolution, is a legal method for the resolution of disputes outside the courts, where the parties to a dispute refer it

Theories of relational contracts These are long-term, non-legal or only incompletely legal agreements. The fact of incomplete foresight is taken into account by leaving gaps in

Delivery of Good – Sales of Goods Therefore this is the voluntary transfer of possession from one person to other. Actually delivery usually takes any of the next forms, namel

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Investigation of Company's Membership: Section (1) empowers the registrar to appoint one or   more competent inspectors to investigate and report on the membership of any comp

Describe in detail about the - policy makers Elections are used to choose the policy makers, it is not the only mechanism. Since the authority to make decisions may be vested i

Economic and Social Council The Economic and Social Council (ECOSOC) is a specialized organ of the United Nations and was established, inter alia, to monitor and regulate human