Hire-Purchase
Agreement in Respect of Sewing Machine
This
Agreement made on this
..day of
..Between ab, etc., (hereinafter called
the owner) of the one part and cd, etc., (hereinafter called the hirer), of
the other part.
wher
as the owner has lent to the hirer a sewing machine and accessories ;
Now this
Agreement Witnesses as follows :
1.
The
sewing machine and the accessories described by the endorsement on the back of
this agreement will remain in the use and possession of the hirer for a period
of 12 months ending on
unless the agreement is term in atedsooner under the
power reserved in this agreement.
2.
The
hirer has paid Rs. 30 as the first months rent in advance and has agreed to
pay to the owner a sum or Rs. every month regularly in advance on before the
5th day of each month.
3.
The
hirer will keep the machine and accessories in good order and in his custody at
the above mentioned address and will not remove the same or seel or pawn if
without the consent of the owner.
4.
The
owner will be at liberty to terminate this agreement on the failure of the
hirer to perform the terms of this agreement and retake possession of the
machine and the accessories.
5.
The
hirer may also terminate agreement by delivering up the machine and accessories
in good order to the owner.
6.
The
hirer may at any time during the hire become the purchaser of the machine and
accessories by paying in cash all the price endorsed on this agreement provided
the payments of hire are regularly made.
7.
On
the termination of the hiring, the machine with the accessories shall be
returned to the owner and the owners right of lien of the machine shall not be
destroyed by any money decree or judgment that the owner may obtain against the
hirer.
8.
If
the hirer fails to pay regularly in advance, the whole transaction will be
treated as one of without any option of purchase.
in
Witness Where of the Parties Hereto have Signed this agreement on the Date and year
first Written Above.
CD
AB
.
.
(Hirer)
(Owner)
Witness
..
On
Reverse
(1)
Particulars of the Sewing machine and accessories
(2)
Price of Sewing machine Rs
(3)
Price of accessories Rs
..
