HIRE PURCHASE: FORMATION OF HIRE PURCHASE AGREEMENT Flashcards
What is inside formation of hire purchase agreement?
- The duty to give notice of the 2nd schedule notice before entering HP agreement.
- Agreement must be in writing.
- The HP agreement must be signed.
- The HP agreement must contain certain details.
- Separate agreement for every item of goods.
- No alterations or additions can be made to the agreement.
- Motor vehicles registration certificate.
- Altered or modified motor vehicles.
- Declaration on second-hand motors.
- Copies of agreement must be served on the hirer and the guarantors.
- Booking fee
- Deposit to be paid by hirer
What are the sections for duty to give notice of the 2nd schedule notice before entering HP agreement?
- Section 4(1)(a) stated that there is an obligation imposed on the owner or its agent to serve on the prospective hirer the requisite information as stated
What are the sections for HP agreement must be in writing?
Section 4A(1) - Must be in writing
Section 4A (2) - If agreement not made in writing, it is void.
Section 4A(1A) - Must be in National Language or English
Section 45, an agreement is considered to not be in writing if
- The handwriting is not clear or legible or
- print size of font is smaller than 10 point-times
- that is not printed in black
What are sections for the HP agreement must be signed?
What are sections for HP agreement must contain certain details?
What are the sections for separate agreement for every items of goods?
What are the sections for no alterations or additions can be made to agreement?
What are sections for motor vehicles registration certificate?
What are the sections for altered or modified motor vehicles?
What are the sections for declaration of second-hand motor vehicles?
What are the sections for copies of the agreement to be served on the hirer and guarantors?
What are the section for booking fee?
What are the sections for deposit to be paid by hirer?
What is the case?
Affin Credit (M) Sdn Bhd v Yap Yuen Fui.
