An Act to define and regulate the rights and duties of parties to hire-purchase agreements and for matters connected with or incidental thereto. BE it ena...
Short title, extent and commencement
(1) This Act may be called the Hire-Purchase Act, 1972. (2) It extends to the whole of India except the State of Jammu and Kashmir (3) It shall come into for...
2. In this Act, unless the context otherwise requires. - (a) "contract of guarantee" in relation to any hire-purchase agreement, means a contract whereby a pe...
|Chapter II||Form and Contents of Hire-Purchase Agreements|
Hire-Purchase agreements to be in writing and signed by parties thereto
(1) Every hire-purchase agreement shall be- (a) in writing, and (b) signed by all the parties thereto (2) A hire-purchase agreement shall be void if in respe...
Contents of hire purchase agreement
(4) Contents of hire purchase agreement.- (1) Every hire-purchase agreement shall state- (a) The hire-purchase price of the goods to which the agreement rela...
Two or more agreements when treated as a single hire-purchase agreement
5. Where by virtue of two or more agreements in writing, none of which by itself constitutes a hire-purchase agreement, there is a bailment of goods and the b...
|Chapter III||Warranties and Conditions, Limitation on Hire-Purchase Charges and Passing of Property|
Warranties and conditions to be implied in hire-purchase agreements
6. (1) Notwithstanding anything contained in any contract, in every hire-purchase agreement there shall be an implied warranty. (a) That the hirer shall have ...
Limitation of hire-purchase charges
(1) In this section:- (a) "Cash price installment", in relation to a hirer-purchase installment, means an amount which bears to the net cash price the same pr...
Passing of property
Subject the provision of this Act, property in the goods to which a hire-purchase agreement relates shall pass to the hirer only on the completion of the pur...
|Chapter IV||Rights and Obligations of the Hirer|
Right of hirer to purchase at any time with rebate
.- (1) The hirer may, at any time during the continuance of the hire-purchase agreement and after giving the owner not less than fourteen days notice in writ...
Right to hirer to terminate agreement at any time
(1) The hirer may, at any time before the final payment under the hirer-purchase agreement falls due, and after giving the owner not less than fourteen days,...
Right to hirer to appropriate payments in respect of two or more agreements
A hirer who is liable to make payments in respect of two or more hire-purchase agreements to the same owners hall, notwithstanding any agreement to the contr...
Assignment and transmission of hirer's right or interest under hire-purchase agreement
(1) The hirer may assign his right, title and interest under the hire-purchase agreement with the consent of the owner, or if his consent is unreasonably wit...
Obligations of hirer to comply with agreement
Subject to the provisions of this Act, a hirer shall be bound.- to pay the hirer in accordance with the agreement, and otherwise to comply with the terms of ...
Obligation of hirer in respect of care to be taken of goods
(1) A hirer in the absence of a contract to the contrary.- shall be bound to take as much care of the goods to which the hire-purchase agreement relates as a ...
Obligation of hirer in respect of use of goods
.- If the hirer makes any use of the goods to which the hire-purchase agreement relates which is not according to the conditions of the agreement, the hirer ...
Obligation of the hirer to give information as to whereabouts of goods
(1) Where by virtue of a hire-purchase agreement a hirer is under a duty to keep in his possession or control the goods to which the agreement relates, the h...
Right of hirer in case of seizure of goods by owner
.- (1) Where the owner seizes under clause (c) of section 19 the goods let under a hire-purchase agreement, the hirer may recover from the owner the amount, i...
|Chapter V||Rights and Obligations of the Owner|
Rights of owner to terminate hire-purchase agreement for default in payment of hire or unauthorized act or breach of express conditions
(1) Where a hirer makes more than one default in the payment of hire as provided in the hire-purchase agreement then, subject to the provisions of section 21...
Rights of owner of termination
Where a hire-purchase agreement is terminated under this Act, then the owner shall be entitled to.- to retain the hire which has already been paid and to rec...
Restriction on owner's right to recover possession of goods otherwise than through court
(1) Where goods have been let under a hire-purchase agreement and the statutory proportion of the hire-purchase price has been paid, whether in pursuance of ...
Relief against termination for non-payment of hire
21. Where the owner, after he has terminated the hire-purchase agreement in accordance with the provisions of sub-section (1) of section 18, institutes a sui...
Relief against termination for unauthorized act or breach of express condition
Where a hire-purchase of clause (a) pr clause (b) of sub-section (2) of section 18, no suit or application by the owner against the hirer for the recovery of ...
Obligation of owner to supply copies and information
(1) It shall be the duty of the owner to supply, free of cost, a true copy of the hire-purchase agreement, signed by owner.- To the hirer, immediately after ...
Discharge of price otherwise than by payment of money
.- Where an owner has agreed that any part of the hire-purchase price may be discharged otherwise than by the payment of money, and such discharge shall, for ...
Insolvency of hirer, etc.
25. (1) Where, during the continuance of the hire-purchase agreement, the hirer is adjudged insolvent under any law with respect to insolvency for the time be...
Successive hire-purchase agreements between same parties
26. Where goods have been let under a hire-purchase agreement, and at any time thereafter the owner makes a subsequent hire-purchase agreement with the hirer,...
Evidence of adverse detention is suit or application to recover possession of goods
(1) Where, in a suit or application by an owner of goods which have been let under a hire-purchase agreement, to enforce a right to recover possession of the...
Hirer's refusal to surrender goods not to be conversion in certain cases
.- If, during the subsistence of any restriction to which the enforcement by an owner of a right to recover possession of goods from a hirer is subject by vir...
Service of notice
.- Any notice required or authorized to be served on or given to an owner or a hirer under this Act may be so served or given- by delivering it to him persona...
Power to exempt from provisions of sections, 6,9,10,12 and 17 in certain cases
Where the Central Government is satisfied that having regard to- the short supply of any goods or class of goods, or the use of intended use of any goods or ...
Act not to apply to existing agreements
The act shall not apply in relation to any hire-purchase agreement made before the commencement of this Act....