The Hire Purchase Law is an important law of corporate rules and regulations. Chapter XI of the Indian contract act gives the provisions to a contract of hire. It is said to a finance agreement such as purchasing any consumer durable items. In the corporate sector, A Hire Purchase Agreement is made during financial transactions. It ensures the rental payment is made strictly as per the agreement envisages. A Hire Purchase Agreement can be made with the consultation of corporate lawyers Kochi http://ggplawpartners.com/
In the hire purchase agreement, the owner hires goods to the hirer by fixing a payment. It also consists of a premium and installment way of paying. That is, if the price can’t be paid in one lump sum, you can have installments. After the completion of installments, the goods will pass to the hirer. Also, there is an option for the hirer to return within a stipulated time. The hirer is vested with the right to terminate the hire purchase agreement by certain regulations. You can know about the rules and regulations in a hire purchase agreement from corporate advocates Kochi.
There are two types of hire purchase agreement. In the first form, an agreement is obtained from the customer, and in the second form, it is obtained from the financier. All these intermediatory transactions can be done with the help of corporate lawyers Kochi.
