in a hire purchase agreement, the buyer is the
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Correct Answer: Option B
Explanation:
Hire purchase is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g. 40% of the total) and repays the balance of the price of the asset plus interest over a period of time. The person who enters an agreement to buy and equipment is called the hirer
Hire purchase is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g. 40% of the total) and repays the balance of the price of the asset plus interest over a period of time. The person who enters an agreement to buy and equipment is called the hirer