Contract Series

THE HIRE PURCHASE CONTRACT

A Hire Purchase Agreement is a form of contract of hire with an option to purchase. The owner of a property lets it out on hire and undertakes to sell it to the hirer or that it shall become the property of the hirer conditionally on his making a certain number of payments. However, until the last payment has been made, the hirer does not own the property.

By |2019-08-15T04:16:44+01:00July 29th, 2019|Business And Corporate Law, Contract Series|0 Comments

BEFORE YOU SIGN THAT GUARANTEE CONTRACT

A guarantee contract is a tripartite agreement between a creditor (the person lending the money/Lender), the borrower and a third person known as the guarantor, wherein the guarantor gives a solemn promise that he would repay the loan or money given to the borrower by the lender when the borrower defaults in the repayment of the loan, or if the borrower is unable to pay.

By |2019-08-15T04:39:06+01:00July 29th, 2019|Business And Corporate Law, Contract Series|0 Comments
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