Question

silent features of higher purchase

Answer 1

I.Every installment is treated as hire charge for using the asset.

2 hier purchaser can use the asset right after making the agreement with the hire vendor.

3. The hire vendor has the right to repossess the asset in case of difficulties in obtaining the payment of installment.
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Answer 2

Features of higher purchase are:

1). The vendor or hiree will the responsible for the goods in case of default. They will have to treat the amount in installments way as received, the hire charged for that period.

2). The payment is to be made by hirer, in installments over a specific time period.

3). The possession of the good is transferred immediately to the buyers.

4). The property in the goods remain with the vendor till the last installment is paid.