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Section 18 – The Hire-Purchase Act, 1972

The Hire-Purchase Act, 1972

 

18. Rights of owner to terminate hire-purchase agreement for default in payment of hire or unauthorised act or breach of express conditions.-

 

(1) Where a hirer makes more than one default in the payment of hire as provided in the hire-purchase agreement then, subject to the provisions of section 21 and after giving the hirer notice in writing of not less than – one week, in a case where the hire is payable at weekly or lesser intervals, andtwo weeks, in any other case, the owner shall be entitled to terminate the agreement by giving the hirer notice of termination in writing.

 

Provided that if the hirer pays or tenders to the owner the hire in arrears together with such interest thereon as may be payable under the terms of the agreement before the expiry of the said period of one week or, as the case may be, two weeks, the owner shall not be entitled to terminate the agreement.

 

The owner shall subject to the provisions of sections 22, be entitled to terminate the agreement by giving the hirer notice of termination in writing.

 

Comments

If the hirer makes more than one default in the payment of hire or if he does any act with regard to goods which is inconsistent with any of the terms of the agreement or breaks an express condition that the owner can terminate the agreement by giving the hirer notice of termination in writing.

 

 

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The Hire-Purchase Act, 1972

 

 

Indian Laws – Bare Acts

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