Hire purchase

An owner can repossess the goods from the hirer if:

• if the hirer pays two days late

• the hirer fails to pay the first payment

• the hirer fails to pay two successive installmenmts

• upon the hirer's death, the personal representative fails to pay two successive installments

Before the owner can repossess the hire purchase goods from the hirer, the owner must

• serve a 4th schedule notice after the default of the last installments

• serve a 4th schedule notice after 2 successive defaults of the monthly installment

• serve a 2nd schedule notice after 2 successive defaults of the monthly installments

• serve a 4th schedule notice after 3 successive defaults of the monthly installments

For goods not listed in the First Schedule of the Hire-Purchase Act 1967, the law which applies is:

• special law

• common law

• rules of equity

• customary law

• constitutional law

Under the Hire-Purchase ACt 1967, which one of the following is not one of the hirer's rights?

• To appropriate payment

• To determine the hiring

• To be supplied with the relevant documents and information

• To assign his right, title and interest without the owner's consent

Which of these statements is NOT TRUE regarding a hirer's right to early completion under a hire purchase agreement?

• The hirer has a right to early completion by service of written notice to the owner

• The hirer may apply to the High Court if the owner refused to give consent for early completion

• The hirer can exercise the right to early completion after the owner has repossessed the goods

• The right to early completion can be exercised at any time during the continuance of the hire purchase agreement

Under section 16(1) of the Hire Purchase ACt 1967, the owner may repossess goods

• after the service of the fifth schedule notice

• after the service of the third schedule notice

• after the service fourth schedule notice

• after the service of the second schedule notice

A hire purchase agreement consists of the following elements EXCEPT

• deferred payment

• full payment in cash

• scheduled payment

• payment by installments

The parties to a hire purchase agreement are____________

• the owner and the hirer

• the buyer and the seller

• the owner and the seller

• the buyer and the agent

What is the effect of a hire purchase agreement which is made verbally?

• Void

• Valid

• Voidable

• Enforceable

When entering into a hire purchase agreement, the owner must do the following EXCEPT

• prepare the agreement in writing

• ask the hirer to sign a complete document

• include mandatory provisions in the agreement

• serve on the hirer the form set out in the Fifth Schedule