CA Foundation Exam > CA Foundation Questions > In a hire-purchase agreement, the hirera)has ...
Start Learning for Free
In a hire-purchase agreement, the hirer
- a)has an option to buy the goods.
- b)must buy the goods.
- c)must return the goods.
- d)is not given the possession of goods.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
In a hire-purchase agreement, the hirera)has an option to buy the good...
Hire-purchase agreement and the Hirer's option to buy
A hire-purchase agreement is a type of agreement where the owner of goods allows the hirer to use the goods for a specified period of time in exchange for regular payments. The hirer does not own the goods until the final payment has been made. At the end of the agreement, the hirer is given the option to buy the goods.
Option to buy
The hirer has the option to buy the goods at the end of the hire-purchase agreement. This means that the hirer can choose whether or not to buy the goods. The hirer is not obligated to buy the goods and can choose to return them instead.
Ownership of goods
During the hire-purchase agreement, the owner of the goods retains ownership until the final payment has been made. This means that the hirer does not own the goods until the final payment has been made and the option to buy has been exercised.
Conclusion
In a hire-purchase agreement, the hirer has the option to buy the goods at the end of the agreement. The hirer is not obligated to buy the goods and can choose to return them instead. During the agreement, the owner of the goods retains ownership until the final payment has been made.
A hire-purchase agreement is a type of agreement where the owner of goods allows the hirer to use the goods for a specified period of time in exchange for regular payments. The hirer does not own the goods until the final payment has been made. At the end of the agreement, the hirer is given the option to buy the goods.
Option to buy
The hirer has the option to buy the goods at the end of the hire-purchase agreement. This means that the hirer can choose whether or not to buy the goods. The hirer is not obligated to buy the goods and can choose to return them instead.
Ownership of goods
During the hire-purchase agreement, the owner of the goods retains ownership until the final payment has been made. This means that the hirer does not own the goods until the final payment has been made and the option to buy has been exercised.
Conclusion
In a hire-purchase agreement, the hirer has the option to buy the goods at the end of the agreement. The hirer is not obligated to buy the goods and can choose to return them instead. During the agreement, the owner of the goods retains ownership until the final payment has been made.
Free Test
FREE
| Start Free Test |
Community Answer
In a hire-purchase agreement, the hirera)has an option to buy the good...
As per the Sale of Goods Act ,1930. the hire purchase means ,the hirer is given the possession of the goods for the trial or to check the goods whether they are suitable for him , but not the ownership of the goods , as in this case he can accept the goods or he can reject the goods but when he rejects the goods it is the duty of the owner to take the goods from the hirer , orelse if he accepts the goods as per his wish he can make the payment n take the ownership.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer?
Question Description
In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer?.
In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer?.
Solutions for In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice In a hire-purchase agreement, the hirera)has an option to buy the goods.b)must buy the goods.c)must return the goods.d)is not given the possession of goods.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup