LexisNexis Essential Reference: Hire Purchase (eBook)

The Hire-Purchase Act 1967 was enacted to regulate the law on hire-purchase agreements in Malaysia, as it has become an increasingly popular method of acquisition. The Act was adapted from the Hire-Purchase Act 1960 New South Wales, Australia and applies only to goods listed in the First Schedule of the Act. Major amendments were made to the Act in 1992 by the Hire-Purchase (Amendment) Act 1992 to overcome the weaknesses in the Act which did not provide adequate protection to hirers, especially consumers. In cases where the Act is inapplicable, the terms of the agreement will govern the contract. All hire-purchase agreements need to satisfy certain procedures relating to a hire-purchase. Hire-purchase deals with conditions and warranties, merchantability and fitness articles for the hire-purchase agreement. It also lists the statutory rights of tenants, secured rights and procedures for repossession of goods. This publication will serve as an indispensable guide and an essential reference for practitioners specialising in hire-purchase, corporations, banks, corporate counsel, prosecutors, judges, students, lecturers, as well as researchers.