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A contract of sale of goods is the same as hire purchase. Discuss

A contract of sale of goods is the same as hire purchase. Discuss

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Answer #1

No both are different

in case of sale the ownership of the goods transfer immediately to buyer while in hire purchase ownership transfer on the last installment

Sales buyer make payment lumpsump however in hire purchase payment made in installment

In sale buyer pays only price of goods in case of hire purchase interest and goods pricd has to borne by buyer

In case of sale seller cannot take back goods in case of hire purchase if installment is not paid seller can take product back

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