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.
Back
