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BCL – May 2016 – L1 – Q4 – Sale of Goods/Hire Purchase

Analyze the implications of paying 60% of a hire purchase price, the legality of seizing a motor, and possible remedies.

Question

Kobi Jones, a porter, buys a tricycle motor to help him cart goods of his clients. The motor was purchased from Agaza Motor Company Limited on a hire purchase agreement. The hire purchase price was GH¢4,500.00 to be paid for in twenty equal instalments. By June 2011, Kobi Jones had paid 60% of the purchase price but was unable to pay the instalment due in July 2011. His plea to be given more time to pay fell on deaf ears. In August 2011, while Kobi Jones was on his way to cart goods for customers, the agents of Agaza Motor Company seized the motor. Kobi Jones thus lost a very lucrative job from which he had hoped to make GH¢2,400.00. Kobi Jones is very upset and comes to you for advice.

a) Explain the effect that the payment of 60% of the purchase price had on the agreement. (6 marks)

b) What does the seizure of the motor by the agents of Agaza Motor Company amount to? (10 marks)

c) What remedies, if any, are available to Kobi Jones? (4 marks)

Answer

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Tags: Contract Breach, Hire Purchase, Protected Goods, Remedies
Level: Level 1

Topic: Sale of goods/hire purchase
Series: MAY 2016

BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

Question

Yaro Ltd deals in cars. They let out their brand new car to Nakare on a hire purchase agreement. The total purchase price stood at GH¢86,000 payments to be made in two years. The monthly installment agreed on was GH¢3,600. With almost three quarters of the payment made, Nakare for unknown reasons refused to make further installment payments. Nakare refused to communicate to Yaro Ltd.

Officials of Yaro Ltd, including the accountant, while on a normal duty tour, chanced on the car and took possession of it. Nakare admitted to non-fulfillment of regular installment but argued that the company’s action was in error.

Required: i) With almost three quarters of the total purchase price paid, explain the legal nature of the goods. (5 marks)

ii) What are the possible implications of the actions of the officials of Yaro Ltd under the hire-purchase agreement? (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Law, Hire Purchase, Legal Rights, Protected Goods
Level: Level 1

Topic: Sale of goods/hire purchase
Series: NOV 2023

BCL – May 2016 – L1 – Q4 – Sale of Goods/Hire Purchase

Analyze the implications of paying 60% of a hire purchase price, the legality of seizing a motor, and possible remedies.

Question

a) Explain the effect that the payment of 60% of the purchase price had on the agreement. (6 marks)

b) What does the seizure of the motor by the agents of Agaza Motor Company amount to? (10 marks)

c) What remedies, if any, are available to Kobi Jones? (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Breach, Hire Purchase, Protected Goods, Remedies
Level: Level 1

Topic: Sale of goods/hire purchase
Series: MAY 2016

BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

Question

Required: i) With almost three quarters of the total purchase price paid, explain the legal nature of the goods. (5 marks)

ii) What are the possible implications of the actions of the officials of Yaro Ltd under the hire-purchase agreement? (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Law, Hire Purchase, Legal Rights, Protected Goods
Level: Level 1

Topic: Sale of goods/hire purchase
Series: NOV 2023

Question Tag: Protected Goods

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BCL – May 2016 – L1 – Q4 – Sale of Goods/Hire Purchase

Analyze the implications of paying 60% of a hire purchase price, the legality of seizing a motor, and possible remedies.

BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

BCL – May 2016 – L1 – Q4 – Sale of Goods/Hire Purchase

Analyze the implications of paying 60% of a hire purchase price, the legality of seizing a motor, and possible remedies.

BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

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BCL – May 2016 – L1 – Q4 – Sale of Goods/Hire Purchase

Analyze the implications of paying 60% of a hire purchase price, the legality of seizing a motor, and possible remedies.

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BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

You're reporting an error for "BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase"

BCL – May 2016 – L1 – Q4 – Sale of Goods/Hire Purchase

Analyze the implications of paying 60% of a hire purchase price, the legality of seizing a motor, and possible remedies.

You're reporting an error for "BCL – May 2016 – L1 – Q4 – Sale of Goods/Hire Purchase"

BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase

Discuss the legal nature of goods under a hire purchase agreement and the implications of repossession by the seller.

You're reporting an error for "BCL – Nov 2023 – L1 – Q2b – Sale of Goods/Hire Purchase"

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