Which of the following statements about hire purchase is NOT correct?
A) The hirer can terminate the agreement by returning the goods to the owner before the stipulated period of hire has expired, without further liability.
B) Hire purchase agreements are regulated by the National Credit Code and the Sale of Goods Acts of each state.
C) A hire purchase agreement is a contract whereby the owner agrees to hire out certain goods coupled with an option for the hirer to purchase the goods.
D) The hirer can terminate the agreement by paying the full amount of the hire and becoming the owner of the goods.
Correct Answer:
Verified
Q17: Who may apply for a civil penalty
Q18: When will the National Credit Code NOT
Q19: Which of the following is the best
Q20: Which of the following is NOT one
Q21: When a borrower makes an application for
Q23: If a finance company is a party
Q24: Which of the following factors will a
Q25: The Credit Reporting Code permits a credit
Q26: In the context of credit information, which
Q27: Which of the following statements about the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents