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Section 11 – The Hire-Purchase Act, 1972

The Hire-Purchase Act, 1972

 

11. Right to hirer to appropriate payments in respect of two or more agreements.-

 

A hirer who is liable to make payments in respect of two or more hire-purchase agreements to the same owners hall, notwithstanding any agreement to the contrary, be entitled , on making any payment in respect of the agreements to appropriate the sum so paid by him in or towards the satisfaction of the sum due under any two or more the agreements, or in or towards the satisfaction of the sums due under any two or more of the agreements in such proportions as he thinks fit, and, if he fails to make any such appropriation as aforesaid, the sum so paid shall, by virtue of this section stand appropriated towards the satisfaction of the sums due under the respective hire-purchase agreements in the order in which the agreements were entered into.

 

 

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The Hire-Purchase Act, 1972

 

 

Indian Laws – Bare Acts

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