- 20 Marks
BCL – L1 – Q40 – Sale of Goods/Hire Purchase
Explain hire purchase and implications of a buyer's death in a credit sale.
Question
PREMIUM GH. LTD
Premium Gh. Ltd entered into an agreement with the Controller and Accountant General’s Department, by which monies were deducted at source on the salaries of workers who had benefited from its Christmas credit sales scheme by way of Hire Purchase. Unfortunately, Mr. Yaw got infected with a virus and passed away shortly after enjoying the credit sales.
Required:
You are the only law student in the accounts department, and your boss has asked you to:
(a) Explain the nature of a Hire Purchase arrangement and the implication of Mr. Yaw’s death.
(b) In TWO (2) ways, differentiate between a Hire Purchase and a Deferred Payment.
Find Related Questions by Tags, levels, etc.
- Tags: Contract Law, Deferred Payment, Hire Purchase, Sale of Goods
- Level: Level 1
- Topic: Sale of Goods/Hire Purchase
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