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Define' hire purchase system'

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Define' hire purchase system'

Posted by Pooja Garg 6 years, 1 month ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 6 years, 1 month ago

Hire-purchase is a credit purchase. The price under hire-purchase system is paid in instalments. The goods are delivered in the possession of the purchaser at the time of commencement of the agreement. Hire vendor continues to be the owner of the goods till the payment of last instalment.

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CBSE > Class 10 > Social Science