The Hire-Purchase Act, 1972

The Hire-Purchase Act, 1972

 

CONTENTS

Sections

Particulars

     
Chapter I

Preliminary

   
1 Short title, extent and commencement.
2 Definitions.
   
Chapter II

Form and Contents of Hire-Purchase Agreements

   
3 Hire-Purchase agreements to be in writing and signed by parties thereto.
4 Contents of hire purchase agreement.
5 Two or more agreements when treated as a single hire-purchase agreement.
   
Chapter III

Warranties and Conditions, Limitation on Hire-Purchase Charges and Passing of Property

   
6 Warranties and conditions to be implied in hire-purchase agreements.
7 Limitation of hire-purchase charges.
8 Passing of property.
     
Chapter IV Rights and Obligations of the Hirer
       
9 Right of hirer to purchase at any time with rebate.
10 Right to hirer to terminate agreement at any time.
11 Right to hirer to appropriate payments in respect of two or more agreements.
12 Assignment and transmission of hirer’s right or interest under hire-purchase agreement.
13 Obligations of hirer to comply with agreement.
14 Obligation of hirer in respect of care to be taken of goods.
15 Obligation of hirer in respect of use of goods.
16 Obligation of the hirer to give information as to whereabouts of goods.
17 Right of hirer in case of seizure of goods by owner.
               
Chapter V

Rights and Obligations of the Owner

      
18 Rights of owner to terminate hire-purchase agreement for default in payment of hire or unauthorised act or breach of express conditions
19 Rights of owner of termination
20 Restriction on owner’s right to recover possession of goods otherwise  than through court
21 Relief against termination for non-payment of hire
22 Relief against termination for unauthorised act or breach of express  condition
23 Obligation of owner to supply copies and information
   
Chapter VI Miscellaneous
   
24 Discharge of price otherwise than by payment of money
25 Insolvency of hirer, etc.
26 Successive hire-purchase agreements between same parties
27 Evidence of adverse detention is suit or application to recover possession of goods
28 Hirer’s refusal to surrender goods not to be conversion in certain  cases
29 Service of notice.
30 Power to exempt from provisions of sections, 6,9,10,12 and 17 in  certain cases
31 Act not to apply to existing agreements

 

 

Indian Laws – Bare Acts

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