- 1 Marks
Question
The bailment of goods in pursuance of an agreement under which the property in the goods will or may pass to the buyer is ……………………………..
Answer
Hire purchase
Explanation:
Hire purchase is an arrangement where goods are delivered to the hirer on terms that allow possession and use, but the title remains with the owner until the full payment is made. Once the conditions are fulfilled, the property in the goods may transfer to the buyer.
- Tags: Bailment, Sale of Goods, Transfer of Property
- Level: Level 1
- Topic: Law of Contract
- Series: NOV 2011
- Uploader: Theophilus