BL – May 2017 – L1 – SA – Q15 – Hire Purchase and Consumer Credit Transactions

Identifies a right that is not available to the hirer in a hire purchase contract.

Question

The hirer, in a hire purchase contract, has the following rights EXCEPT the right to
A. Use the goods
B. Quiet possession of the goods
C. Know the exact installments to be paid
D. Choose the insurer if the goods is motor vehicle
E. Repossess the goods

Answer

Answer: E. Repossess the goods

Explanation: In a hire purchase agreement, the hirer has certain rights, such as using the goods, enjoying quiet possession, and knowing the exact installments to be paid. However, ownership and the right to repossess the goods remain with the owner or seller until the final payment is made.

Tags: Consumer Credit, Contract Law, Hire Purchase, Rights of Hirer
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2017

Uploader: Kwame Aikins