Question

What is meant by *Down Payment' in Hire Purchase System?​

Answer 1

Answer:

the down payment if any, the down payment means the amount which is required to be paid by hire-purchaser to the hire vendor at the time of commencement of hire-purchase agreement. the rate interest charged by the hire vendor.

hope it helps you.....

Answer 2

Explanation:

dawn payment is the intial payment for any paymemt