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A personal contract purchase is a conditional sale agreement, and under UK law the purchaser is protected under the Consumer Credit Act 1974 and the Financial Services Regulations 2004. [ 2 ] Included items
A conditional sale is a real estate transaction where the parties have set conditions. [1] [2] A standard real estate transaction usually begins when a prospective purchaser submits an offer to purchase to the vendor of a property. As in a standard offer, a conditional offer sets out the terms of the sale such as the purchase price, the date of ...
Hire purchase. A hire purchase (HP), [1] also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset plus interest over a period of time.
The provisions are very similar to those for sale of goods agreements, with the section on exclusion clauses identical. [11] Under the 1893 Act, conditional sale agreements (where the buyer takes possession of the goods, but the seller retains the right to repossess them) were treated as hire-purchase agreements, despite being fundamentally sales.
Tying (informally, product tying) is the practice of selling one product or service as a mandatory addition to the purchase of a different product or service.In legal terms, a tying sale makes the sale of one good (the tying good) to the de facto customer (or de jure customer) conditional on the purchase of a second distinctive good (the tied good).
4. Not Enough Vitamin D. You shouldn’t get too much sun, but some vitamin D exposure is essential.A review of studies found that people with certain autoimmune diseases may have a vitamin D ...
Well, these are parallel systems rather than related systems. HP defers the transfer of title until all the hire payments have been made in full. Only then can the hirer buy at a predetermined (albeit usually a nominal) price. In the installment plan, title passes immediately upon contract with payments being spread over a period of time.
The treaty creates international standards for registration of contracts of sale (including dedicated registration agencies), security interests , leases and conditional sales contracts, and various legal remedies for default in financing agreements, including repossession and the effect of particular states' bankruptcy laws.