What Is The Nature Of Hire Purchase Agreement

8.3 In the event of a breach of contract by the Seller, the Buyer is entitled to apply the remedies provided for in the legal acts (in particular in the Law of Obligations Act). If the Seller violates the contract, the Buyer has no right to refuse to fulfil its obligations to the Postman, except in the case of circumstances that are imperative by legal acts. If the Buyer has the right provided for by legal acts to terminate the service contract concluded for the execution of ongoing/recurring transactions, the Buyer is obliged to continue to pay for the services provided before the cancellation, but is not obliged to pay for the services not yet provided by the Seller after the termination of the contract. Hire purchase is an agreement in which a person leases property for a certain period of time by paying installments and can own the property at the end of the contract when all payments are paid. The financial house can only repossess the goods in certain circumstances. If the consumer has not yet paid one-third of the total hire-purchase fee, the owner may repossess the goods at any time without taking legal action against the consumer. Everything you buy under a hire-purchase agreement must comply with the Sale of Goods and Provision of Services Act 1980 and be: 23.