Question

Hire purchase definition advantages and disadvantages

Answer 1

Answer:

in hire purchase,the ownership in the goods shall be transferred only on payment of all the installments

Explanation:

disadvantage:-if the purchaser cannot pay all the installments,thenthe installmentspaid are treated as hire charges for the use of the goods by the hire purchaser and the paid installments are forfeitures

advantage:-the hire purchaser cannot sell the goods until the last installment is paid...it provides security to the financer

Answer 2

Answer:

hope it will help u .....