A contract to take possession of goods on installment
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Correct Answer: Option B
Explanation:
Hire purchase is an arrangement in which a person obtains possession and use of goods and pays for them by instalments. Ownership normally passes to the hirer after the final instalment has been paid and the conditions of the agreement have been fulfilled.
Hire purchase is an arrangement in which a person obtains possession and use of goods and pays for them by instalments. Ownership normally passes to the hirer after the final instalment has been paid and the conditions of the agreement have been fulfilled.