|Previous (HIRE-PURCHASE ACT, 1946)
HIRE-PURCHASE ACT, 1946
Notice to be Included in Note or Memorandum of Hire-Purchase Agreement.
Right of Hirer to Terminate Agreement.
1. The hirer may put an end to this agreement by giving notice of termination in writing to any person who is entitled to collect or receive the hire-rent.
2. He must then pay any instalments which are in arrear at the time when he gives notice. If, when he has paid those instalments, the total amount which he has paid under the agreement is less than (here insert the minimum amount which the hirer is required to pay in accordance with the provisions of sections 5 and 19 of this Act) he must also pay enough to make up that sum.
3. If the goods have been damaged owing to the hirer having failed to take reasonable care of them, the owner may sue him for the amount of the damage unless that amount can be agreed between the hirer and the owner.
4. The hirer should see whether this agreement contains provisions allowing him to put an end to the agreement on terms more favourable to him than those just mentioned. If it does, he may put an end to the agreement on those terms.
Restriction of Owner's Right to Recover Goods.
1. Without the hirer's consent, the owner has no authority to enter on the hirer's premises for the purpose of taking back the goods.
2. * [After (here insert an amount calculated in accordance with sections 12 and 19 of this Act) has been paid, then,] unless the hirer has himself put an end to the agreement, the owner of the goods cannot take them back from the hirer without the hirer's consent unless the owner obtains an order of the Court.
3. If the owner applies to the Court for such an order, the Court may, if it thinks it just to do so, allow the hirer to keep either—
(a) the whole of the goods, on condition that the hirer pays the balance of the price in the manner ordered by the Court; or
(b) a fair proportion of the goods having regard to what the hirer has already paid.