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Ashorn Ashorn
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7 years ago
Identify which of the following statements correctly describes a hire-purchase agreement.
a. The contract does not create a bailment and the hirer has no contractual obligation to pay the purchase price.
b. The contract gives the hirer a lien on the goods preventing the owner from selling the goods to another.
c. This is simply another name for a chattel mortgage on an automobile.
d. The contract creates a bailment, but the hirer has a contractual obligation to pay the purchase price.
e. The contract creates a bailment and the hirer has an option to purchase the item at the end of the stipulated term.
Textbook 
The Law and Business Administration in Canada

The Law and Business Administration in Canada


Edition: 14th
Authors:
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MiY4GiMiY4Gi
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Ashorn Author
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6 years ago
Thanks!
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