- 1 Marks
Question
An owner that is in breach of a warranty under a hire purchase agreement is liable to
A. Pay damages to the hirer
B. Forfeit every right under the agreement
C. Lose his right to further installment payments
D. Refund all installments already paid by the hirer
E. Repudiate the agreement
Answer
A
Explanation:
The correct liability is to pay damages to the hirer when an owner breaches a warranty under a hire purchase agreement.
- Tags: Hire Purchase, Warranty
- Level: Level 1
- Topic: Hire Purchase and Consumer Credit Transactions
- Series: NOV 2021
- Uploader: Theophilus