Rules Of Hire Purchase Agreement

24. If these machines and equipment are lost or completely destroyed or damaged beyond repairs by fire, flood, earthquake or other cause, the tenant must repair the damage suffered by the company, the loss of the market price of the machines and equipment existing at the time, or the rental price targeted at point (3), plus the amount of the right to insurance received, if that amount is equal, will be adjusted to that price. AND CONSIDÉRANT that the tenant asked the company to rent the machines and equipment mentioned to allow the tenant to manufacture … with an option for the tenant to buy the same thing. If the tenant falls back at the time of payment or does not pay all the payments, the creditor will attempt to recover the goods from the tenant and ask the tenant to return the goods to the creditor. However, this will not end the tenant`s liability under the agreement. Indeed, even if the property has been taken over and sold, the creditor will sue the tenant for all other costs related to the agreement. As such, tenants are encouraged to hire their financiers to negotiate a mutually acceptable solution. 22 years old. The tenant also has the right to terminate this contract at any time by disclosing to the company, no less than fourteen days in advance, for this purpose, but in this case, the tenant is required to pay the company the sums due because of the rental fees and the amount of rental costs due for the period from the date of termination to the expiry of the agreed period of this contract, subject to the provisions of the law. 35. My company is a car rental company. A customer has been informed of a contract to lease a vehicle that is used as a private tenant/taxi and is not covered by law.

What are we going to do next? If this third-party rule is violated by the owner, the consumer is allowed to terminate the contract and may demand a refund of all payments made. For more information on a third of the rule, visit the Competition and Consumer Protection Commission website.