Hire-purchase and sale, Business Law and Ethics

Hire-Purchase and Sale

The hire-purchase transaction is such not a sale since, according to the definition like:

(i)There is no seller or buyer. Such like the parties are the as "owner" of the goods and the as "hirer". And one is

(ii)The hirer may buy the goods but he is not bound for buy them. Because it is this aspect of the transaction that constitutes the legal distinction between a hire-purchase such agreement and a sale of goods, that was explained in like Hebly v Mathews (45). Whether in a sale of goods, the buyer is bound for buy the goods and, such already explained, so like can be sued for their price, or like damages, whether he refuses to pay for or accept the goods.

Posted Date: 2/1/2013 5:40:57 AM | Location : United States

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