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BUSINESS LAW Explain MBC’s rights and responsibilities in the following circumstances with reference to the Hire...

BUSINESS LAW

Explain MBC’s rights and responsibilities in the following circumstances with reference to the Hire Purchase Act 1967 and related cases. A hire purchase agreement for a truck was signed between Jason and MBC in 2019. In December 2020, when Jason wanted to renew the road tax for the truck, the Road Transport Department told him that there were three summonses issued in 2018 against the truck which were not resolved yet. Jason was ordered to pay the outstanding summons before he is allowed to renew the road tax for the truck. Jasoon asked MBC to paid the summons but MBC refused to paid it.

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by the hire purchase act of 1967 the MBC, while giving the right, title, and interest to the Jason as per agreement as per law has given consent only when all the outstanding defaults are made good and agreement is signed as per law which requires the hirer and the assignee executing the agreement in the form approved as per the hirer Laws of Malaysia ACT 21222 . so the owner of the truck,   MBC it is his right and duty to pay the outstanding summons in order to counter any other legal hurdle.

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