hire purchase contract

hire purchase contract
hire purchase contract hire purchase contract contract1

Financial and business terms. 2012.

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  • Hire purchase — (abbreviated HP) is the legal term for a contract, in this persons usually agree to pay for goods in parts or a percentage at a time. It was developed in the United Kingdom and can now be found in China, Japan, Malaysia, India, South Africa,… …   Wikipedia

  • Hire Purchase — A method of buying goods through making installment payments over time. The term hire purchase originated in the U.K., and is similar to what are called rent to own arrangements in the United States. Under a hire purchase contract, the buyer is… …   Investment dictionary

  • Hire purchase — Hire purchase, or, more fully, Hire purchase agreement Hire purchase agreement, or Hire and purchase agreement Hire and purchase agreement (Law) A contract (more fully called contract of hire with an option of purchase) in which a person hires… …   The Collaborative International Dictionary of English

  • Hire purchase agreement — Hire purchase Hire purchase, or, more fully, Hire purchase agreement Hire purchase agreement, or Hire and purchase agreement Hire and purchase agreement (Law) A contract (more fully called contract of hire with an option of purchase) in which a… …   The Collaborative International Dictionary of English

  • hire purchase —    Hire purchase, commonly abbreviated to HP (called ‘instalment credit’ in the USA, where the system emerged in the nineteenth century) plays an important but decreasing role in providing consumer credit, especially for poorer people, for the… …   Encyclopedia of contemporary British culture

  • hire purchase — HP A method of buying goods in which the purchaser takes possession of them as soon as an initial instalment of the price (a deposit) has been paid; ownership is obtained when all the agreed number of subsequent instalments have been completed. A …   Accounting dictionary

  • hire purchase — HP A method of buying goods in which the purchaser takes possession of them as soon as an initial instalment of the price (a deposit) has been paid and obtains ownership of the goods when all the agreed number of subsequent instalments have been… …   Big dictionary of business and management

  • hire purchase — system for financing the purchase of plant and equipment, where the ownership is vested with the lender until the final payment is made. The borrower is required to place a deposit and make periodic (usually monthly) repayments at a flat rate of… …   Financial and business terms

  • hire purchase — /haɪə pɜ:tʃɪs/ noun a system of buying something by paying a sum regularly each month ● to buy a refrigerator on hire purchase Abbr HP (NOTE: American English is installment plan or installment sale) ♦ to sign a hire purchase agreement to sign a… …   Marketing dictionary in english

  • hire purchase — /ˌhaɪə pɜ:tʃɪs/ noun a system of buying something by paying a sum regularly each month ● to buy a refrigerator on hire purchase (NOTE: The US term is installment credit, installment plan or installment sale.) ♦ to sign a hire purchase agreement… …   Dictionary of banking and finance

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