Hire Purchase & Equipment Lease
5. Rights of the Buyer
Authors: Staff Legal Eagle
Firm / Chambers:
Last updated: 23 Jul 2015
- A buyer has various rights under the agreement.
- Under the law the buyer:
- is entitled to exclusive use, possession and enjoyment of the items purchased;
- can finalise the contract of sale at any time by paying the outstanding payments in a lump sum and obtain ownership of the items; and
- can return the items and terminate the agreement at any time subject to any termination clauses that may apply.
- Additional terms and conditions can be incorporated into the hire purchase agreement as agreed between the parties provided they are reasonable in the circumstances.
View more Information on Consumer & Competition