Get premium membership and access questions with answers, video lessons as well as revision papers.
Under section 15(1) of the act, if at any time 2/3 of the hire purchase price is paid by the hirer or any other person on his behalf, the owner cannot reposses goods otherwise than the court action.
If the owner reposses goods in contravention to this section:
1) The hire purchase agreement terminates.
2) The hirer is discharged from all the liability under the agreement.
3) The hirer is entilted to all sum paid under the contract of guarantee or under the security given.
4) The guarantor is entilted to recover all sum paid under the contract of guarantee or under security given.
Advice to Brutus Okaka.
-He should reclaim all the sum he paid under the agreement since he had paid 2/3rds of the hire purchase price. This provision was intended to protect the hirer from common law practice of 'snatch back' under which the owner will reposses the goods back at any time.
Ayoo1 answered the question on October 28, 2020 at 15:10
- Distinguish between ownership and possession in relation to law of property. (Solved)
The learner should have mastered the topic on law of property and be able to differentiate between the two terms.
Date posted: February 20, 2020. Answers (1)
- Describe historical development of the international law, that controls and regulates all international activities (Solved)
Describe historical development of the international law, that controls and regulates all international activities
Date posted: May 23, 2019. Answers (1)
- Outline conditions that must be met before a partner in a firm could bind other partners in transactions with third parties(Solved)
Outline conditions that must be met before a partner in a firm could bind other partners in transactions with third parties.
Date posted: May 4, 2019. Answers (1)
- Outline ways in which Fee Simple estate is created(Solved)
Outline ways in which Fee Simple estate is created
Date posted: April 12, 2019. Answers (1)
- Highlight the ways by which an Absolute Proprietorship can be created.(Solved)
Highlight the ways by which an Absolute Proprietorship can be created.
Date posted: April 12, 2019. Answers (1)
- State the three major types of dispute resolution. (Solved)
State the three major types of dispute resolution.
Date posted: April 12, 2019. Answers (1)
- What are the advantages of resolving commercial disputes?(Solved)
What are the advantages of resolving commercial disputes?
Date posted: April 12, 2019. Answers (1)
- Highlight the disadvantages of resolving commercial disputes(Solved)
Highlight the disadvantages of resolving commercial disputes
Date posted: April 12, 2019. Answers (1)
- List the methods by which a dispute referred to arbitration.(Solved)
List the methods by which a dispute referred to arbitration.
Date posted: April 12, 2019. Answers (1)
- Explain the duties of a banker to a customer in relation to the negotiable instrument.(Solved)
Explain the duties of a banker to a customer in relation to the negotiable instrument
Date posted: April 12, 2019. Answers (1)
- Explain the duties of a customer to a banker in relation to the negotiable instrument.(Solved)
Explain the duties of a customer to a banker in relation to the negotiable instrument.
Date posted: April 12, 2019. Answers (1)
- Discuss the types / classification of cheques.(Solved)
Discuss the types / classification of cheques.
Date posted: April 12, 2019. Answers (1)
- How does a cheque differ from a bill of exchange. (Solved)
How does a cheque differ from a bill of exchange.
Date posted: April 12, 2019. Answers (1)
- Outline the characteristics of Negotiable Instruments.(Solved)
Outline the characteristics of Negotiable Instruments.
Date posted: April 12, 2019. Answers (1)
- What is a negotiable instrument?(Solved)
What is a negotiable instrument?
Date posted: April 12, 2019. Answers (1)
- State ways in which an Agency is created.(Solved)
State ways in which an Agency is created.
Date posted: April 12, 2019. Answers (1)
- How does bailment differ from agency?(Solved)
How does bailment differ from agency?
Date posted: April 12, 2019. Answers (1)
- What is the difference between Trust and Agency?(Solved)
What is the difference between Trust and Agency?
Date posted: April 12, 2019. Answers (1)
- Highlight TWO similarities between Agency and Trust.(Solved)
Highlight TWO similarities between Agency and Trust.
Date posted: April 12, 2019. Answers (1)
- Discuss the essentials of an insurance contract?(Solved)
Discuss the essentials of an insurance contract?
Date posted: April 12, 2019. Answers (1)