(a) a copy of the lease-purchase agreement or, in the case of a purchase credit contract in which the total purchase price does not exceed USD 30, a copy of a note or memorandum of the agreement; and like leasing, leases allow companies with inefficient working capital to provide assets. It can also be tax efficient than standard credits, as payments are accounted for as expenses – although all savings are offset by possible tax benefits on depreciation. (1) The Hire-Purchase Act 1938 (in this part of this act known as the “Main Act”) applies (except as provided for in Section 2 of this Act) as amended by subsection (5) of this section, for all leases and sales of credit for which the purchase rental price or the total purchase price may be , does not exceed $2000. 1. The provisions of this section come into effect when the goods are leased under a lease agreement to which the main law applies and the contract or any other agreement contains a provision (whatever it is expressed and limited or not to the late payment) under which, with the exception of this section, they are sanitized by entry or on a date. , by reference to , a delay in the payment of one or more tranches or other amounts payable by the tenant, such as the consequences mentioned in the next subsection, as stated in this provision (referred to in this section as “reported consequences”). (b) constitutes a credit sales contract to which this Law applies, under which the total purchase price exceeds USD 30, (a) constitutes a lease agreement to which the law applies or (3B) If, in the context of a lease-sale agreement, the goods are considered defects mentioned in the agreement (whether defects or other description of the same effect) and – this information explains what leases (HP) are conditional sales. It informs you of your rights if you want to terminate the contract and the lender`s rights if you do not pay. All other goods during the term of the contract in which the goods remain in the lease can only be exercised if the copy of the contract has been sent to the tenant or purchaser, but not within seven days of the end of the contract; and no jurisdiction of the Tribunal under this reserve applies to a requirement imposed under paragraph 3 or paragraph 4 of this section.
(3) The provisions of the Main Act (with the exception of section 20 of the Act) and the Tenancy Act of 1954 and this part of the Lease-Sale Act apply to all conditional sales contracts covered by this section, since they apply to the leases to which the main act applies. , subject to exceptions and amendments to Part I of Schedule 1 of this Act.