Hire Purchase |
|
| Author:
| Miller, Frederic P. |
| Editor:
| Miller, Frederic P.
Vandome, Agnes F.
John, McBrewster |
| ISBN: | 978-613-0-64491-8 |
| Publication Date: | Sep 2010 |
| Publisher: | AV Akademikerverlag GmbH & Co. KG
|
| Book Format: | Paperback |
| List Price: | USD $38.00 |
Book Description:
|
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Hire purchase is the legal term for a contract developed in the United Kingdom and now found in China, Japan, India, Australia, and New Zealand. It is also called closed-end leasing. In cases where a buyer cannot afford to pay the asked price for an item of property as a lump sum but can afford to pay a percentage as a deposit, a hire-purchase contract allows...
More DescriptionPlease note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Hire purchase is the legal term for a contract developed in the United Kingdom and now found in China, Japan, India, Australia, and New Zealand. It is also called closed-end leasing. In cases where a buyer cannot afford to pay the asked price for an item of property as a lump sum but can afford to pay a percentage as a deposit, a hire-purchase contract allows the buyer to hire the goods for a monthly rent. When a sum equal to the original full price plus interest has been paid in equal installments, the buyer may then exercise an option to buy the goods at a predetermined price or return the goods to the owner. In Canada and the United States, a hire purchase is termed an installment plan; other analogous practices are described as closed-end leasing or rent to own.