Requirements of registration of hire purchase agreements, Business Law and Ethics

Requirements of Registration of Hire Purchase Agreements

  1. Each Hire purchase Agreement must will in the English language
  2. It have be delivered to registration within 30 days of its execution
  3. Payment of a set fee before registration also.

Although the Registrar will refuse to register whichever hire purchase agreement whether like:

  1. Further the agreement is liable to stamp duty and it is not duly stamped and one is
  2. It is not in English language
  3. It is lodged for registration out of time like i.e. outside 30 days of its execution also.

Therefore the Registrar is, given discretion under however Section 5 to extend the time of registration whether satisfied that failure for register in time was due such to some accident or inadvertence or to some other sufficient cause. Because upon registration, that he issues a certificate such is Prima facie evidence of its contents.

Posted Date: 2/1/2013 5:33:14 AM | Location : United States

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