Legal Consequences Of Non Registration Of Hire Purchase Agreement

(a) the tenant has and enjoys the silent possession of these machines and equipment during the stay of this arrangement. 22 years old. The tenant also has the right to terminate this contract at any time by disclosing to the company, no less than fourteen days in advance, for this purpose, but in this case, the tenant is required to pay the company the sums due because of the rental fees and the amount of rental costs due for the period from the date of termination to the expiry of the agreed period of this contract , subject to the provisions of the Rent Purchase Act. Please explain the legal consequences of not registering a lease-sale. In the current circumstances, we intend Parliament to exclude purchases of cooperatives and registered corporations from the application of the law and not just to lower the monetary threshold for businesses. (7) During the period of application of this agreement, the tenant maintains these machinery and equipment in good condition and maintains them properly, as a prudent man would, and replaces any lost or unused or broken parts. 5.6 The postman is authorized to transfer the contractual rights against the purchaser. The postman is required to inform the purchaser of the assignment of the debt in accordance with the procedure provided by the deeds. 4. During the performance of this contract, the tenant paid the company an amount of rs. … as a surety or serious, which are adjusted to the rental price of the machines and equipment mentioned, if the tenant exercises the option to purchase the same option as the one mentioned below. If the tenant does not exercise this option or if the contract is terminated prior to the exercise of this option, the amount of the surety is returned to the tenant by the corporation at the expiry or the old provision of this agreement, subject to the deduction of the rights that the business may have against the tenant under the agreement or the law.

, including the entry price of the machine and equipment in question. 8.3 In the event of an infringement by the seller, the buyer has the right to apply the remedies provided by the legal acts (including the law of obligations). If the seller violates the contract, the buyer has no right to refuse to perform his obligations to the postman, unless the circumstances that are made mandatory by legal acts. If the purchaser has the right to terminate the benefit contract entered into for the execution of current or recurring transactions, the purchaser is required to continue payment for services provided prior to termination, but is not required to pay, after the revocation of the contract, for services that have not yet been provided by the seller and has the right to require the factor (as the seller`s representative) to terminate the last repayments. of the contract and payment plan, up to the value of the services not yet provided, with the seller required to deduct the cost of delivering the service. We can add that the non-registration did not cancel the agreement or that the result is that the company will be reimbursed for all the money it paid under the agreement. It retained its validity as a contract between them and was applicable as such – see Walsh v Lonsdale [1982] 21 Ch.