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Report No. 20

Chapter II

Form and Contents of Hire-Purchase Agreements

3. Hire-purchase agreement, to be in writing and signed by all parties.-

(1) Every hire-purchase agreement shall be-

(a) in writing, and

(b) sighed by all the parties thereto.

(2) A hire-purchase agreement shall be void if in respect thereof, any of the requirements specified in sub-section (1) has not been complied with.

(3) Where there is a contract of guarantee, the hire-purchase agreement shall be signed by the surety also, and if the hire-purchase agreement is not so signed, the hire-purchase agreement shall be voidable at the option of the owner.

Law of Hire-Purchase Back

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