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what is the difference between hirepurchase and lease?
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Answer Posted / priyank kaushik
Hire purchase means you dont legally own the goods until
you pay the entire amount decided. Hence neither you can
sell or modify, without permission of the lender. And if,
in case any damage is occured you will be liable for the
same. Whereas lease is an agreement by which one is entitle
to occupy property, but which is subject to termination at
the will of the owner of the property.
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