• 1 Marks

BL – May 2014 – L1 – SA – Q9 – Sale of Goods

Assessing an agreement to buy goods by installments and transfer ownership.

An agreement to buy goods and subsequently pay for it by installments on the term that ownership will pass when the final installment is paid is:
A. A credit sale
B. A hire purchase
C. A conditional sale
D. An outright sale
E. A provisional sale

B. A hire purchase

Explanation:
A hire purchase sale is an agreement where the buyer takes possession of the goods but ownership (title) does not pass until all payments, usually in installments, have been completed.

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