Identify three consequences of not registering a hire purchase agreement
Consequences of not registering a hire purchase agreement
- The agreement cannot be enforced by any person against the hirer.
- Any contract of guarantee made in relation to the hire purchase agreement is also unenforceable.
- The owner cannot enforce the right to reposes the goods from the hirer.
- Any security given by the hirer under the hire purchase agreement or by the guarantor under the contract of guarantee is unenforceable.
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