40. HIRE PURCHASE ACT, 1972
The Act defines and regulates the rights and duties of parties of hire purchase agreement.

As per this Act, hire purchase agreement should be in writing and signed by all parties. The agreement should contain all description as said in this Act regarding hire purchase i.e. name of good, price, date of agreement, number of installments etc. The Act describes in detail about warranties and conditions of goods, hire purchase charges and rights and obligations of the hirer and owner.

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