Answer Posted / sharad garg
While in Hire Purchase system, the title before you pay the
last installment, remains with the Hirer (i.e. one who
gives something on HPS). Installments paid are considered
as payment towards the usage of the article hired, until
the last installments. If you default in paying even the
last installment, the hirer can take away the article,
without having to repay any installment or part thereof to
the hiree. Only afer the payment of the last instalment,
the ownership (title) to goods pass on to the hiree.
In case of Installment option, the title to goods is
considered to have passed to the hiree on the payment of
the first installment only. Every installment is considered
to be the payment towards the value of the goods and not
for the usage alone. In case of default seller can enforce
the hiree to sell the product and make good the remaining
installment. But the hirer cannot claim a good title to the
goods.
| Is This Answer Correct ? | 60 Yes | 8 No |
Post New Answer View All Answers
Which Exchange determine Foreign Exchange/Currency Rate?
What are the major responsibility's of an accountant? what are the qualities he /she requires?
We have a registered dealer under APVAT Act. Our company is manufacturing & marketing of seeds. seeds exempted under vat. recently we have purchased machinery for our new plant construction, against c form. now sales tax dept.not giving the c forms, because our final product is exempted, we are not eligible for c forms. kindly clarify.
Dear sir i had been called for ntpc interview and gd next month..please guide me for it!
is there any chance for confilcts between an accountant and a sales executive ? If yes how do you resolve the same as an accountant ?
sort out the difference between service provider & service reciepient from the service tax.
Nike,Inc. has developed a variable-overhead rate of $10 per machine hour,and estimates fixed overhead $250,000 for production up to 100,000 units per year. If the production manager estimates 9,000 machine hours for the production of 90,000 units next year, what are estimated variable-overhead costs?
Can any one explain me how profitability analysis s implemented in Sap & tell me which tables get effected by this... i want to know about copa_derive msgtypes also...
what do you mean by jounal voucher? Jounal entry for dishonored cheque can be possible thruogh jv?
How now about sales tax and purchase tax.what is the persentage of those thing in tamil nadu.
Is advance paid wages has credit balance?
Hi, I am preparing for Junior Accounts Officers test- APTRANSCO. Can any one suggest the model paper / Books available? john kadapa
who is the pramotar?
emplementation of accounting standerds in Bangladesh, developing or copieng?
what are the accounting ratios
