Question

1. Distinguish between hire purchase system and installment syster

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Answer 1

Answer:

Hire Purchase: System of buying goods by making regular payment until the full price is paid. Installment: System of credit sale in which a sum of money or debt is paid regularly in installment. Hire Purchase: Buyer cannot transfer or sell the good until the final installment is made.

Answer 2

Explanation:

Hire Purchase: System of buying goods by making regular payment until the full price is paid. Installment: System of credit sale in which a sum of money or debt is paid regularly in installment.

Hire Purchase: Buyer cannot transfer or sell the good until the final installment is made.

Hope this helps.

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