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I am a student of ICWAI (Intermediate). I looking for some
information about Rayalty and Hire Purchase.
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Answer Posted / nishchinth kumar
In simple words,Royalty means A landlord gives his land to
other person on lease & the other will cultivate or take
output from that land & he will pay some fixed lease rent to
landlord.
In simple words, Hire purchase means if a person purchases
in installment from Bike showroom & the whole amount is paid
in equal installment,if the purchaser defaults his payment
then the sellor(Vendor) has full rights to bring back his
bike which he sold.
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