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Hire Purchase (STATUTORY RIGHTS OF HIRER (Section 9 The right to be…
Hire Purchase
STATUTORY RIGHTS OF HIRER
Section 9
The right to be supplied documents and information
Section 10
The right to require the owner to appropriate payments made in hire-purchase agreements
Section 11
Right to apply to the Magistrates’ court for an order approving the removal of the goods to another place
Section 12
Right to assign his right, title and interest under the hire-purchase agreement
Section 13
Right to have his rights, title and interest passed on by operation of law
Section 14
Right to complete the purchase of the goods earlier than due date
Section 15
Right to terminate the hiring
PROCEDURE FOR REPOSSESSION
Section 16 (4)
Immediately upon repossession, an owner must serve on the hirer personally a document acknowledging receipt of the goods or if the hirer is not present at that time, send the document to the hirer immediately after taking possession of the goods
Section 16 (1)
There must be at least 2 successive defaults in payment of the monthly installments
Section 16 (2)
Where owner believes that the hirer would abscond or conceal the hire purchase goods if the 4th schedule notice is served, the notice need not be given
Section 16 (3)
Owner within 21 days after repossession of the goods must serve the hirer and guarantor a written notice in the form set out in the 5th Schedule
Selling off repossessed goods
Section 17 (1)
Owner cannot sell or dispose off the repossessed goods without written consent hirer until the expiration of the 21 days after the date of service of the 5th schedule notice to hirer
Section 18 (4)
If owner intends to sell the goods in public auction, he must send the auction notice to the hirer not less than 14 days from the auction date.
Rights of hirer after repossession
Section 18 (1) (a)
After the service of 5th Schedule Notice, hirer is entitled to ask the owner to
Redeliver the goods to him or
To sell the goods to a person introduced by him for cash
Section 19 (1)
The rights in Section 18(1)(a) are only applicable if the hirer within 21 days after receiving 5th Schedule notice
Pay the amount due under the agreement up to the date of payment