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HIRE PURCHASE by Mind Map: HIRE PURCHASE

1. Hire Purchase Agreement

1.1. - Section 2 : includes a letting of goods with an option to purchase and an agreement for the purchase by installment

2. Terminologies

2.1. Section 2 of Hire Purchase Act

2.1.1. Owner

2.1.2. Hirer

2.1.3. Dealer

3. Formation

3.1. Section 4(1) (a) & (b) (i) (ii)

3.2. Section 4(2)

4. Price

4.1. The total sum payable in order to complete the purchase of goods

4.2. Hire purchase price

4.2.1. Deposit

4.2.2. Monthly installment

4.2.3. Monthly interest

5. Goods

5.1. The Hire Purchase Act 1967

5.1.1. if parties have agreed to bound by the provision of Act

5.1.1.1. case: Kesang Leasing Sdn Bhd v Mohd Yusof

6. Required of Hire Purchase Agreement

6.1. Section 4A Hire Purchase Act

6.1.1. agreement be in writting

6.1.1.1. Section 4A (1)

6.1.1.1.1. agreement be in writting

6.1.1.2. Section 4A (2)

6.1.1.2.1. Failure to do will render the agreement as void

6.1.1.3. Section 4 (3)

6.1.1.3.1. owner willl be guilty of an offence under Section 46

6.2. Section 4B Hire Purchase Act

6.2.1. agreement to be signed

6.2.1.1. Section 4B (1)

6.2.1.1.1. agreement should be signed by or onbehalf of all parties

6.2.1.2. Section 4B (2)

6.2.1.2.1. signed all the forms,doc or agreement have been fully completed

6.2.1.2.2. dealer cannot insist on hirer to sign incomplete hire agreement

6.2.1.3. Section 4B (3)

6.2.1.3.1. agreement not signed or signed without completed , the agreement shall be void

6.2.1.4. Section 4B (4)

6.2.1.4.1. dealer who fails to sign/sign an incomplete shall be guilty under section 46

7. Content of hire purchase agreement

7.1. Section 4C (1) (a) of Hire Purchase Act

7.1.1. Every hire purchase agreement shall specify

7.2. Section 4C (1) (c) of Hire Purchase Act

7.2.1. Every hote purchase agreement shall set out in a tabular form

7.3. Section 4C (2)

7.3.1. Agreement which does not comply with this requirement is void

7.4. Section 4C (3)

7.4.1. Owner enters into agreement without station the contents, guilty of an offence under Section 46

8. Separate Agreement of Every Item of Goods

8.1. Section 4D (1)

8.2. Section 4D (2)

9. Alteration Of Hire Purchase Agreement

9.1. Section 39

10. Copy of Documents to be Served

10.1. Section 5(1)

10.2. Section 5(4)

11. Deposit

11.1. Section 31(1)

12. Implied condition and warranties in hire purchase agreement

12.1. Section 7 (1) (a)

12.2. Section 7 (1) (b)

12.3. Section 7 (1) (c)

12.4. Section 7 (2)

13. Effect of breach

13.1. breach of condition

13.2. breach of warranty

14. Liability of Owner And Dealer For Misrepresentation

14.1. Section 8 (1)

15. Statutory rights of Hirer

15.1. Section 9

15.2. Section 10

15.3. Section 11

15.4. Section 12

15.5. Section 13

15.6. Section 14

15.7. Section 15

16. Guarantor

16.1. a person who guarantees to the owner that the hirer would perform his obligations and agreements undertakes to repay the hirer debt to the owner should the hirer fail to pay debt by the due date

16.2. the right of guarantor v hirer

16.2.1. Section 24(1)

16.2.2. Section 24(2)

16.3. the right of guarantor v owner

16.3.1. Section 23(1)

16.3.2. Section 23 (2)