• 1 Marks

BL – Nov 2020 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions

Objective question on the form of consideration in hire purchase agreements.

13. The consideration for a hire purchase is
A. Payment of shares
B. Price of goods
C. Installmental payment
D. Bill of exchange
E. Cost of goods

C

Explanation:
The consideration in a hire purchase agreement is typically installmental payment, where the buyer pays over time to eventually acquire ownership of the goods.

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