Transfer of ownership of goods sold under Hire Purchase System takes place when
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Correct Answer: Option D
Explanation:
Under a hire purchase agreement, the buyer obtains possession of the goods while ownership remains with the seller. Ownership normally passes to the hirer after the final instalment has been paid and the terms of the agreement have been fulfilled.
Under a hire purchase agreement, the buyer obtains possession of the goods while ownership remains with the seller. Ownership normally passes to the hirer after the final instalment has been paid and the terms of the agreement have been fulfilled.