Definition of Hire purchase. Meaning of Hire purchase. Synonyms of Hire purchase

Here you will find one or more explanations in English for the word Hire purchase. Also in the bottom left of the page several parts of wikipedia pages related to the word Hire purchase and, of course, Hire purchase synonyms and on the right images related to the word Hire purchase.

Definition of Hire purchase

Hire purchase
Hire purchase Hire purchase, or, more fully, Hire purchase agreement Hire purchase agreement, or Hire and purchase agreement Hire and purchase agreement (Law) A contract (more fully called contract of hire with an option of purchase) in which a person hires goods for a specified period and at a fixed rent, with the added condition that if he shall retain the goods for the full period and pay all the installments of rent as they become due the contract shall determine and the title vest absolutely in him, and that if he chooses he may at any time during the term surrender the goods and be quit of any liability for future installments upon the contract. In the United States such a contract is generally treated as a conditional sale, and the term hire purchase is also sometimes applied to a contract in which the hirer is not free to avoid future liability by surrender of the goods. In England, however, if the hirer does not have this right the contract is a sale.

Meaning of Hire purchase from wikipedia

- A hire purchase (HP), also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an ****et by paying an initial...
- The Hire-Purchase Act 1967 (Malay: Akta Sewa Beli 1967), is a Malaysian law which enacted to regulate the form and contents of hire-purchase agreements...
- Hire Purchase under Shirkatul Melk (HPSM) is a type of hire purchase contract which has been developed through practice and approved in Shariah. The term...
- the Hire-Purchase Act 1938, later amended by the Hire-Purchase Act 1954 and the Hire-Purchase Act 1964. The 1965 Act applied to all hire-purchase agreements...
- Personal contract purchase (PCP), often referred to as a personal contract plan, is a form of hire purchase vehicle finance for individual purchasers...
- Adverti****ts (Hire-Purchase) Act 1957 (5 & 6 Eliz. 2. c. 41) was an Act of the Parliament of the United Kingdom that regulated the way in which hire-purchase agreements...
- lease-option, lease-to-own or lease to purchase option. Hire purchase, used in the UK and other countries for the purchase of cars, other consumer equipment...
- and from a hire purchase/installment plan, in that the lessee can terminate the agreement by simply returning the property (in a hire purchase the buyer...
- other online retailers in that it incorporates a technique known as hire purchase, where customers can pay with credit, and make monthly payments until...
- last rental, or bargain option purchase price). A finance lease has similar financial characteristics to hire purchase agreements and closed-end leasing...