STATUTORY RIGHTS AND DUTIES OF HIRERS

Question 1

STATUTORY RIGHTS AND DUTIES OF HIRERS ARE

Answer 1

1. RIGHT TO A COPY OF A AGREEMENT AND STATEMENT OF CURRENT POSITION
2. RIGHT TO APPROPRIATION OF PAYMENTS MADE IN HIRE PURCHASE AGREEMENTS
3. RIGHT TO APPLY FOR COURT’S ORDER TO REMOVE THE GOODS
4. RIGHT TO ASSIGN HIRER’S RIGHT UNDER THE HPA
5. RIGHT BY THE OPERATION OF LAW
6. RIGHT TO EARLY COMPLETION OF THE AGREEMENT
7. RIGHT TO TERMINATE THE AGREEMENT

Question 2

HOW MANY DAYS FOR THE OWNER TO PREPARE A COPY OF THE AGREEMENT TO THE HIRER

Answer 2

WITHIN 21 DAYS

Question 3

HOW MANY DAYS FOR THE HIRER IS ENTITLED TO BE SUPPLIED WITH A STATEMENT OF CURRENT POSITION BY THE OWNER?

Answer 3

WITHIN 14 DYAS

Question 4

STATEMENT OF CURRENT POSITION MUST CONTAIN

Answer 4

1. AMOUNT PAID
2. AMOUNT WHICH HAS BECOME THE DUE
3. AMOUNT WHICH IS BECOME PAYABLE
4. AMOUNT DERIVED FROM INTEREST ON OVERDUE INSTALLMENT

Question 5

IF THE OWNER DOESNT SUPPLY THE STATEMENT OF CURRENT POSITION TO THE HIRER FOR A PERIOD OF 1 MONTH

Answer 5

THE OWNER SHALL BE LIABLE TO A FINE NOT EXCEEDING RM1000