State The Rights Of Hirer Under The Hire Purchase Agreement

As soon as you are a tenant after HPA 1967, you are entitled to the following rights: 15. The ownership or ownership of the company on these machines and equipment remains intact during the period of hanging of this agreement and the tenant is considered derbailee with all the obligations and obligations of a bailee in the law until the tenant exercises his option to purchase thereafter. 25. The tenant has the opportunity to acquire these machines and equipment, and the option is exercised by notifying the company one month in advance. The option to purchase may be exercised from the expiry date of the agreed deadline for this contract or from an earlier date. In the first case, the tenant is required to pay the company an amount equal to the rental price of the machines and equipment referred to in the point (3), reduced by the total amount of payments up to that date or the higher rupee. In the latter case, that is, if the option to purchase is exercised before the term of the contract expires, the tenant is required to pay an amount equal to the purchase price of the rent or the balance of the rent, payable in monthly increments of the rental costs up to the date of the agreed term of the contract, since it is reduced by a discount corresponding to two thirds of an amount corresponding to the rental costs. the same share as the balance of the rental sale price that has not been due until now applies to the purchase price of the lease. The claim must be filed within two years of the date of purchase. If the statute of limitations is exceeded, additional time may be granted if there are sufficient grounds that are subject to the court`s understanding. 30.

If, at the time of the decision of this agreement, the tenant, by date or other means, does not supply these machines and equipment to the company without litigation, the company is entitled to sue or initiate another procedure to recover the property of the business, and the tenant is obliged to pay all costs , expenses and expenses. that are born out of society. , subject to a decision of the Court of Justice.