Interested to Buy Any Domain ? << Click Here >> for more details...
HIREPURCHASE VS INSTALMENT PURCHASE
- 4 Answers
- 18132 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / guest
Hire Purchase - You pay the value of the product in
instalments with out the title of the product.
Instalments - You pay the value of the product in
instalments and you also have the title of the same.
| Is This Answer Correct ? | 69 Yes | 7 No |
Answer / 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 |
Answer / rahmat unnisa
hire pur:the ownership is not transfered
installment pur:ownership is transferd
| Is This Answer Correct ? | 29 Yes | 3 No |
Answer / gayathri .n
In hire purchase system we have the right to seize the product say two heeler if the installent is not paid ;
while in installment system we dont have the right to seize but we can file a case in the to pay the installment.
| Is This Answer Correct ? | 11 Yes | 3 No |
you went outside to purchase vegetagles, suddently big rain came then what you will do
For how long should prepayments be carried in the books as fictitious asset and when is it ideal for a new coy to pay tax
formula for return on equity
company accounts & final accounts?
what is diffference between retail invoice and tax invoice ?
what is the gernal vocher ?
What is TDS
143 Answers Accenture, Accurate Meters, Capital IQ, ICA, ICICI, IIJT, Leo Technologies, Lupin, Microsoft, NCR, Skypak, Somaiya, SS Automation, TCS, Unitherm Engineers, VFC Industries, Way2Wealth,
What is General Accounting
22 Answers Accounting, Genpact, TATA,
types of the capital market?
Give three examples of P/V ratio?
why to ifferentiate between capital and revenue expenditure?
wt is stock split, dividends, rights issues,mergers and acquisitions, and spinn offs?
Audit 
