Outline five provisions which govern termination of a hire purchase agreement the hirer.

Provisions governing termination of hire purchase agreement the hirer:

  • The hirer may terminate the agreement at any time before the final payment becomes due.
  • He may do so returning the goods to the owner.
  • By giving the owner written notice of termination of the agreement.
  • He is, however, liable to pay all instalments due that time, together with the sum, if any, as will make his total payment not less than half of the total purchase price, unless a lesser sum is specified in the agreement.
  • He will also pay damages if he has failed to take reasonable care of the goods.
  • He must return the goods at his own expense to the premises of the owner, or to premises directed the owner but at the owner’s expense.
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