Consumer Credit – NBC Institute

BL – May 2012 – L1 – SA – Q7 – Hire Purchase and Consumer Credit Transactions

State the type of goods covered by the Hire Purchase Act 2004.

Question

State the type of goods to which the Hire Purchase Act 2004 is applicable irrespective of the amount involved.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Consumer Credit, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2012

BL – May 2012 – L1 – SA – Q15 – Hire Purchase and Consumer Credit Transactions

Identify the parties involved in a hire purchase relationship.

Question

A hire purchase relationship is one between a:

A. Hiree and a hirer
B. Hiree and a bank
C. Seller and a servant
D. Master and a servant
E. Bailor and a bailee

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Consumer Credit, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2012

BL – May 2012 – L1 – SA – Q6 – Hire Purchase and Consumer Credit Transactions

Identifying the obligation that does not fall under a hirer's responsibility.

Question

Which of the following is NOT a hirer’s obligation?

A. To take delivery of the goods
B. To take proper care of the goods
C. Not to part with the possession of the goods
D. To report to the owner every week
E. To return the goods to the owner when the agreement is terminated

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Consumer Credit, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2012

BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Identifies the relationship between the owner and the hirer in a hire purchase transaction.

Question

The relationship between the owner and the hirer in a hire purchase transaction is that of _____________________.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Hire Purchase, Legal Relationships, Short Answer
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Determines the basis of possession in a hire purchase transaction.

Question

In Hire Purchase transactions, goods are in possession of the hirer in consideration of

A. Instalmental payments
B. Full payments
C. Non payments
D. Future payment
E. The close relationship between the parties

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Contract Law, Hire Purchase, Multiple Choice
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2013

BL – Nov 2015 – L1 – SA – Q18 – Hire Purchase and Consumer Credit Transactions

Identifying duties not required of a hirer in a Hire Purchase contract.

Question

In Hire Purchase contract, the duties of the hirer include the following EXCEPT
A. Acceptance of delivery
B. Duty of care of the goods
C. Payment of instalment
D. Duty to buy the goods
E. Duty not to sell the goods

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Hire Purchase, Legal Duties, Multiple Choice
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2015

BL – Nov 2014 – L1 – SA – Q17 – Hire Purchase and Consumer Credit Transactions

Identify the incorrect characteristic of a Hire Purchase contract.

Question

Generally, a Hire Purchase contract has the following characteristics EXCEPT
A. Bailee and Bailor
B. Written agreement
C. Deposit of a specified sum of money
D. Possession of goods by the hirer
E. The agreement that cannot be terminated

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bailment, Consumer Credit, Contracts, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2014

BL – May 2021 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions

Identifying what hire purchase contracts do not involve.

Question

A hire purchase contract does not involve transfer of

A. Possession
B. Title
C. Indemnity
D. Proposal
E. Inventory

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Contractual Agreements, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2021

BL – Nov 2019 – L1 – SB – Q6b – Hire Purchase and Consumer Credit Transactions

Explaining exceptions to the rule that hirers cannot pass good title under hire purchase contracts.

Question

Under hire purchase contract, the general rule is that the hirer cannot pass a good title in the goods to a third party.
Required:
Explain briefly TWO exceptions to this rule. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Exceptions, Hire Purchase, Transfer of Title
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2019

BL – May 2023 – L1 – SA – Q5 – Hire Purchase and Consumer Credit Transactions

Identify the circumstances under which a hire purchase contract can be terminated.

Question

Which of the following could signify the termination of a hire purchase contract?

A. New agreement
B. Dissatisfaction
C. Reclusion
D. Reproduction
E. Discouragement

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Contract Termination, Hire Purchase, Legal Agreement
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2023

BL – May 2012 – L1 – SA – Q7 – Hire Purchase and Consumer Credit Transactions

State the type of goods covered by the Hire Purchase Act 2004.

Question

State the type of goods to which the Hire Purchase Act 2004 is applicable irrespective of the amount involved.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Consumer Credit, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2012

BL – May 2012 – L1 – SA – Q15 – Hire Purchase and Consumer Credit Transactions

Identify the parties involved in a hire purchase relationship.

Question

A hire purchase relationship is one between a:

A. Hiree and a hirer
B. Hiree and a bank
C. Seller and a servant
D. Master and a servant
E. Bailor and a bailee

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Consumer Credit, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2012

BL – May 2012 – L1 – SA – Q6 – Hire Purchase and Consumer Credit Transactions

Identifying the obligation that does not fall under a hirer's responsibility.

Question

Which of the following is NOT a hirer’s obligation?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Consumer Credit, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2012

BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Identifies the relationship between the owner and the hirer in a hire purchase transaction.

Question

The relationship between the owner and the hirer in a hire purchase transaction is that of _____________________.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Hire Purchase, Legal Relationships, Short Answer
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Determines the basis of possession in a hire purchase transaction.

Question

In Hire Purchase transactions, goods are in possession of the hirer in consideration of

A. Instalmental payments
B. Full payments
C. Non payments
D. Future payment
E. The close relationship between the parties

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Contract Law, Hire Purchase, Multiple Choice
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2013

BL – Nov 2015 – L1 – SA – Q18 – Hire Purchase and Consumer Credit Transactions

Identifying duties not required of a hirer in a Hire Purchase contract.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Hire Purchase, Legal Duties, Multiple Choice
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2015

BL – Nov 2014 – L1 – SA – Q17 – Hire Purchase and Consumer Credit Transactions

Identify the incorrect characteristic of a Hire Purchase contract.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bailment, Consumer Credit, Contracts, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2014

BL – May 2021 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions

Identifying what hire purchase contracts do not involve.

Question

A hire purchase contract does not involve transfer of

A. Possession
B. Title
C. Indemnity
D. Proposal
E. Inventory

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Contractual Agreements, Hire Purchase
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2021

BL – Nov 2019 – L1 – SB – Q6b – Hire Purchase and Consumer Credit Transactions

Explaining exceptions to the rule that hirers cannot pass good title under hire purchase contracts.

Question

Under hire purchase contract, the general rule is that the hirer cannot pass a good title in the goods to a third party.
Required:
Explain briefly TWO exceptions to this rule. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Exceptions, Hire Purchase, Transfer of Title
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: NOV 2019

BL – May 2023 – L1 – SA – Q5 – Hire Purchase and Consumer Credit Transactions

Identify the circumstances under which a hire purchase contract can be terminated.

Question

Which of the following could signify the termination of a hire purchase contract?

A. New agreement
B. Dissatisfaction
C. Reclusion
D. Reproduction
E. Discouragement

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consumer Credit, Contract Termination, Hire Purchase, Legal Agreement
Level: Level 1

Topic: Hire Purchase and Consumer Credit Transactions
Series: MAY 2023

Question Tag: Consumer Credit

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BL – May 2012 – L1 – SA – Q7 – Hire Purchase and Consumer Credit Transactions

State the type of goods covered by the Hire Purchase Act 2004.

You're reporting an error for "BL – May 2012 – L1 – SA – Q7 – Hire Purchase and Consumer Credit Transactions"

BL – May 2012 – L1 – SA – Q15 – Hire Purchase and Consumer Credit Transactions

Identify the parties involved in a hire purchase relationship.

You're reporting an error for "BL – May 2012 – L1 – SA – Q15 – Hire Purchase and Consumer Credit Transactions"

BL – May 2012 – L1 – SA – Q6 – Hire Purchase and Consumer Credit Transactions

Identifying the obligation that does not fall under a hirer's responsibility.

You're reporting an error for "BL – May 2012 – L1 – SA – Q6 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Identifies the relationship between the owner and the hirer in a hire purchase transaction.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Determines the basis of possession in a hire purchase transaction.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2015 – L1 – SA – Q18 – Hire Purchase and Consumer Credit Transactions

Identifying duties not required of a hirer in a Hire Purchase contract.

You're reporting an error for "BL – Nov 2015 – L1 – SA – Q18 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2014 – L1 – SA – Q17 – Hire Purchase and Consumer Credit Transactions

Identify the incorrect characteristic of a Hire Purchase contract.

You're reporting an error for "BL – Nov 2014 – L1 – SA – Q17 – Hire Purchase and Consumer Credit Transactions"

BL – May 2021 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions

Identifying what hire purchase contracts do not involve.

You're reporting an error for "BL – May 2021 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2019 – L1 – SB – Q6b – Hire Purchase and Consumer Credit Transactions

Explaining exceptions to the rule that hirers cannot pass good title under hire purchase contracts.

You're reporting an error for "BL – Nov 2019 – L1 – SB – Q6b – Hire Purchase and Consumer Credit Transactions"

BL – May 2023 – L1 – SA – Q5 – Hire Purchase and Consumer Credit Transactions

Identify the circumstances under which a hire purchase contract can be terminated.

You're reporting an error for "BL – May 2023 – L1 – SA – Q5 – Hire Purchase and Consumer Credit Transactions"

BL – May 2012 – L1 – SA – Q7 – Hire Purchase and Consumer Credit Transactions

State the type of goods covered by the Hire Purchase Act 2004.

You're reporting an error for "BL – May 2012 – L1 – SA – Q7 – Hire Purchase and Consumer Credit Transactions"

BL – May 2012 – L1 – SA – Q15 – Hire Purchase and Consumer Credit Transactions

Identify the parties involved in a hire purchase relationship.

You're reporting an error for "BL – May 2012 – L1 – SA – Q15 – Hire Purchase and Consumer Credit Transactions"

BL – May 2012 – L1 – SA – Q6 – Hire Purchase and Consumer Credit Transactions

Identifying the obligation that does not fall under a hirer's responsibility.

You're reporting an error for "BL – May 2012 – L1 – SA – Q6 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Identifies the relationship between the owner and the hirer in a hire purchase transaction.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions

Determines the basis of possession in a hire purchase transaction.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q9 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2015 – L1 – SA – Q18 – Hire Purchase and Consumer Credit Transactions

Identifying duties not required of a hirer in a Hire Purchase contract.

You're reporting an error for "BL – Nov 2015 – L1 – SA – Q18 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2014 – L1 – SA – Q17 – Hire Purchase and Consumer Credit Transactions

Identify the incorrect characteristic of a Hire Purchase contract.

You're reporting an error for "BL – Nov 2014 – L1 – SA – Q17 – Hire Purchase and Consumer Credit Transactions"

BL – May 2021 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions

Identifying what hire purchase contracts do not involve.

You're reporting an error for "BL – May 2021 – L1 – SA – Q13 – Hire Purchase and Consumer Credit Transactions"

BL – Nov 2019 – L1 – SB – Q6b – Hire Purchase and Consumer Credit Transactions

Explaining exceptions to the rule that hirers cannot pass good title under hire purchase contracts.

You're reporting an error for "BL – Nov 2019 – L1 – SB – Q6b – Hire Purchase and Consumer Credit Transactions"

BL – May 2023 – L1 – SA – Q5 – Hire Purchase and Consumer Credit Transactions

Identify the circumstances under which a hire purchase contract can be terminated.

You're reporting an error for "BL – May 2023 – L1 – SA – Q5 – Hire Purchase and Consumer Credit Transactions"

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