Ownership of goods under hire purchase agreement is transferred at the time of:
A)payment of down payment
B)payment of first instalment
C)payment of last instalment
D)none of the above

Question

Quizplus · Accepted Answer

Ownership of goods under a hire purchase agreement is transferred to the hirer upon payment of the last instalment, as this completes the purchase agreement.

Ownership of Goods Under Hire Purchase Agreement Is Transferred at the Time