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The option available to the Hirer in case of Hire Purchase Agreement?
- a)He may purchase the goods after paying all the agreed instalments
- b)He may purchase the goods without paying all the agreed instalments
- c)Return the goods at any time and stop further payment of instalments
- d)Return the goods at any time and remain paying the instalments
Correct answer is option 'A,C'. Can you explain this answer?
Verified Answer
The option available to the Hirer in case of Hire Purchase Agreement?a...
Correct Answer :- a,c
Explanation : Hire-Purchase Agreements
In a hire-purchase agreement, the owner hires goods to the hirer with an option to purchase the goods when he has made the payment of a certain sum.
By this system, the purchaser who is unable to pay the full price of the asset at one lump sum, gets facilities to acquire an asset and after making the payment of an initial amount called premium, the purchaser pays the balance consideration money in installments.
After the payment of all the installments, the property in the goods passes to the hirer.
The hirer has an option to return the goods during the period of hire. In a hire-purchase agreement, the hirer has the right to terminate the agreement for hire at his pleasure and is not bound to pay the value of the goods.
A hire-purchase agreement is a form of bailment; the hirer is given the right to purchase the goods on certain conditions. That, however, is an option not an obligation to purchase.
The hirer may elect to purchase the goods and when he does so, after he fulfills all the conditions prescribed in the agreement, the title to the goods will pass to him. But he may elect not to do so, and in that event he is entitled to return the goods and terminate the agreement in the manner provided therein.
Most Upvoted Answer
The option available to the Hirer in case of Hire Purchase Agreement?a...
Correct Answer :- a,c
Explanation : Hire-Purchase Agreements
In a hire-purchase agreement, the owner hires goods to the hirer with an option to purchase the goods when he has made the payment of a certain sum.
By this system, the purchaser who is unable to pay the full price of the asset at one lump sum, gets facilities to acquire an asset and after making the payment of an initial amount called premium, the purchaser pays the balance consideration money in installments.
After the payment of all the installments, the property in the goods passes to the hirer.
The hirer has an option to return the goods during the period of hire. In a hire-purchase agreement, the hirer has the right to terminate the agreement for hire at his pleasure and is not bound to pay the value of the goods.
A hire-purchase agreement is a form of bailment; the hirer is given the right to purchase the goods on certain conditions. That, however, is an option not an obligation to purchase.
The hirer may elect to purchase the goods and when he does so, after he fulfills all the conditions prescribed in the agreement, the title to the goods will pass to him. But he may elect not to do so, and in that event he is entitled to return the goods and terminate the agreement in the manner provided therein.
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The option available to the Hirer in case of Hire Purchase Agreement?a...
In hire purchase agreement property in goods is to be transferred after payment of last installment till he can return good by not paying not installment
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The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. Can you explain this answer?
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The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. 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 The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. 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 The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. Can you explain this answer?.
The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. 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 The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. 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 The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. Can you explain this answer?.
Solutions for The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. Can you explain this answer?, a detailed solution for The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. Can you explain this answer? has been provided alongside types of The option available to the Hirer in case of Hire Purchase Agreement?a)He may purchase the goods after paying all the agreed instalmentsb)He may purchase the goods without paying all the agreed instalmentsc)Return the goods at any time and stop further payment of instalmentsd)Return the goods at any time and remain paying the instalmentsCorrect answer is option 'A,C'. Can you explain this answer? theory, EduRev gives you an
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