Hire purchase

M Naresh

You can write a note assuming with regard to interest after repossession The Hire purchaser need not pay interest or alternatively interest is paid..

Sairam Reddy

But there is small difference among those two questions In case of that milk vans hire vendor has repossessed by vans by adjusting the whole amount due means there hire purchase agreement is completed and only settlement is pending. But in tempos case hire vendor repossessed by adjusting that particular installment means there agreement is not completed.Balance amount they have to treat as installment amount. In first case they didn't mentioned about interest on that settlement amount. Once refer in back side practical question 3 That is also very similar to 1st case but in that question they mentioned int rate.As per me int is to be taken only when they mentioned.

Thread Starter

Has yes i got it thank u soo much for ur information

Sairam Reddy

I don't know IAM correct or wrong but I will write like this only.It is not exact Anwer it's just my assemption.