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HIRE PURCHASE by Mind Map: HIRE PURCHASE

1. Formation

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

1.2. Section 4(2)

2. Price

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

2.2. Hire purchase price

2.2.1. Deposit

2.2.2. Monthly installment

2.2.3. Monthly interest

3. Goods

3.1. The Hire Purchase Act 1967

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

3.1.1.1. case: Kesang Leasing Sdn Bhd v Mohd Yusof

4. Required of Hire Purchase Agreement

4.1. Section 4A Hire Purchase Act

4.1.1. agreement be in writting

4.1.1.1. Section 4A (1)

4.1.1.1.1. agreement be in writting

4.1.1.2. Section 4A (2)

4.1.1.2.1. Failure to do will render the agreement as void

4.1.1.3. Section 4 (3)

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

4.2. Section 4B Hire Purchase Act

4.2.1. agreement to be signed

4.2.1.1. Section 4B (1)

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

4.2.1.2. Section 4B (2)

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

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

4.2.1.3. Section 4B (3)

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

4.2.1.4. Section 4B (4)

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

5. Alteration Of Hire Purchase Agreement

5.1. Section 39

6. Statutory rights of Hirer

6.1. Section 9

6.2. Section 10

6.3. Section 11

6.4. Section 12

6.5. Section 13

6.6. Section 14

6.7. Section 15

7. Guarantor

7.1. 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

7.2. the right of guarantor v hirer

7.2.1. Section 24(1)

7.2.2. Section 24(2)

7.3. the right of guarantor v owner

7.3.1. Section 23(1)

7.3.2. Section 23 (2)

8. Hire Purchase Agreement

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

9. Terminologies

9.1. Section 2 of Hire Purchase Act

9.1.1. Owner

9.1.2. Hirer

9.1.3. Dealer

10. Content of hire purchase agreement

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

10.1.1. Every hire purchase agreement shall specify

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

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

10.3. Section 4C (2)

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

10.4. Section 4C (3)

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

11. Separate Agreement of Every Item of Goods

11.1. Section 4D (1)

11.2. Section 4D (2)

12. Copy of Documents to be Served

12.1. Section 5(1)

12.2. Section 5(4)

13. Deposit

13.1. Section 31(1)

14. Implied condition and warranties in hire purchase agreement

14.1. Section 7 (1) (a)

14.2. Section 7 (1) (b)

14.3. Section 7 (1) (c)

14.4. Section 7 (2)

15. Effect of breach

15.1. breach of condition

15.2. breach of warranty

16. Liability of Owner And Dealer For Misrepresentation

16.1. Section 8 (1)