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Section 17 – The Hire-Purchase Act, 1972

The Hire-Purchase Act, 1972

 

17. Rights of hirer in case of seizure of goods by owner.-

 

(1) Where the owner seizes under clause (c) of section 19 the goods let under a hire-purchase agreement, the hirer may recover from the owner the amount, if any, by which the hirer-purchase price falls short of the aggregate of the following amount, namely :- the amounts paid in respect of the hire-purchase price up to the date of seizure.

 

The value of the goods on the date of seizure.

 

For purposes of this section, the value of any goods on the date of seizure is the best price that can be reasonably contained for the goods by the owner on that date less the aggregate of the following amounts, namely :- The reasonable expenses incurred by the owner for seizing the goods, any amount reasonably expended by the owner on the storage, repairs or maintenance of the goods.

 

(whether or not the goods have subsequently been sold or otherwise disposed of by the owner) the reasonable expenses of selling or otherwise disposing of the goods, and the amounts spent by the owner for payment of arrears of taxes and other dues which are payable in relation to the goods under any law for the time being in force and which the hirer was liable to pay.

 

If the owner fails to pay the amount due form him under the provisions of this section or any portion of such amount, to the hirer within a period of thirty days form the date of notice for the payment of the said amounts is served on him by the hirer the owner shall be liable to pay interest on such amount at the rate of twelve per cent, per annum from the date of expiry of the said period of thirty days.

 

Where the owner has sold the goods seized by him the onus of proving that the price obtaining by him for the goods was the best price that could be reasonably obtained by him on the date of seizure shall lie upon him.

 

 

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The Hire-Purchase Act, 1972

 

 

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