DIFF. BETWEEN HIRE-PURCHASE AND INSTALLEMNT





HIRE-PURCHASE
INSTALLMENT


1.         
The ownership of the goods passes to the  1.   The ownership of the goods passes to the
Hire-vendor on the payment of last Installment.
buyer immediately when the agreement is signed.
2.
It is a agreement of Hiring.
2.
It is a agreement of Sale.
3.
The hires can return the goods if he does not
3.
The buyer cannot return the goods to the
want to continue with the agreement.
seller.
4.
The hires cannot sell transfer or pledge the


goods.
4.
The buyer can do all such thing.
5.
If the hires make default in payment of
5.
In case of default seller can only sue the in
Installment or any other terms of agreement the
seller can repossess the goods.
the court of law and cannot repossess the goods.


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