Meaning of "hire-purchase" in the English dictionary

PRONUNCIATION OF HIRE-PURCHASE

hire-purchase

GRAMMATICAL CATEGORY OF HIRE-PURCHASE

Hire-Purchase is a noun.

A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES HIRE-PURCHASE MEAN IN ENGLISH?

Hire purchase

Hire purchase is the legal term for a contract, in which a purchaser agrees to pay for goods in parts or a percentage over a number of months. In Canada and the United States, a hire purchase is termed an installment plan although these may differ slightly as in a hire purchase agreement the ownership of the good remains with the seller until the last payment is made. Other analogous practices are described as closed-end leasing or rent to own. The hire purchase agreement was developed in the United Kingdom in the 19th century to allow customers with a cash shortage to make an expensive purchase they otherwise would have to delay or forgo. For example in cases where a buyer cannot afford to pay the asked price for an item of property as a lump sum but can afford to pay a percentage as a deposit, a hire-purchase contract allows the buyer to hire the goods for a monthly rent. When a sum equal to the original full price plus interest has been paid in equal installments, the buyer may then exercise an option to buy the goods at a predetermined price or return the goods to the owner.

Definition of hire-purchase in the English dictionary

The definition of hire-purchase in the dictionary is a system for purchasing merchandise, such as cars or furniture, in which the buyer takes possession of the merchandise on payment of a deposit and completes the purchase by paying a series of regular instalments while the seller retains ownership until the final instalment is paid.

TRANSLATION OF HIRE-PURCHASE

Find out the translation of hire-purchase to 25 languages with our English multilingual translator.

The translations of hire-purchase from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «hire-purchase» in English.

• Translator English - Chinese: 租购
• Translator English - Spanish: alquiler-venta
• English: hire-purchase
• Translator English - Hindi: किराया खरीद
• Translator English - Arabic: استئجار الشراء
• Translator English - Russian: в рассрочку
• Translator English - Portuguese: locação-venda
• Translator English - Bengali: ক্রয় ভাড়া
• Translator English - French: location-vente
• Translator English - Malay: sewa beli
• Translator English - German: Ratenkauf
• Translator English - Japanese: 分割払い購入
• Translator English - Korean: 고용 구입
• Translator English - Javanese: Nyewa-tuku
• Translator English - Vietnamese: thuê mua
• Translator English - Tamil: கொள்முதல்
• Translator English - Marathi: भाडे-खरेदी
• Translator English - Turkish: taksit
• Translator English - Italian: locazione-vendita
• Translator English - Polish: Zakup na raty
• Translator English - Ukrainian: в розстрочку
• Translator English - Romanian: închiriere - cumpărare
• Translator English - Greek: μίσθωση-αγορά
• Translator English - Afrikaans: huurkoop
• Translator English - Swedish: avbetalningsköp
• Translator English - Norwegian: leie - kjøp

10 ENGLISH BOOKS RELATING TO «HIRE-PURCHASE»

Discover the use of hire-purchase in the following bibliographical selection. Books relating to hire-purchase and brief extracts from same to provide context of its use in English literature.

General Principles and Commercial Law of Kenya

Hire-purchase agreements are governed in Kenya by the Hire Purchase Act (Cap 507). This Act is mainly modeled on English Hire. Purchase Acts. Definition A hire purchase agreement is a contract whereby the owner of the goods hires them ...

Ashiq Hussain, 1978

Financial Accounting

What do you understand by hire purchase system ? State its merits and demerits. 2. What is hire purchase system ? What are its characteristics ? Distinguish between hire purchase sale and credit sale. 3. What is hire purchase system ?

RK Mittal, RS Singal

The Sale of Goods

Consumer Conditional Sales It is ironic that consumer conditional sales are removed from section 25(1) because of their kinship with hire purchase transactions, given that one of the reasons for the emergence of hire purchase was the desire ...

Michael G. Bridge, 1998

Business Law

The person granting credit in respect of the goods (this, in effect, is what happens in the hire-purchase arrangement) retains ownership, however, and thus non- registration of the bill will not necessarily prejudice this party's rights. Should the ...

Peter Gillies, 2004

The Nigerian Legal System

The Special Tribunal referred to above under this section is vested with jurisdiction to try offenses under laws cited in this portion.4 Hire Purchase ( Leasing) Laws Until 1965 the only hire-purchase law throughout Nigeria was the received ...

Charles Mwalimu, 2009

Consumer Protection Law

One of the consequences of attempts to avoid the Moneylending Acts was the growth of instalment sales and hire-purchase transactions as a way of providing credit. A loan was a pre-condition for the application of the Moneylenders Acts. The ...

John Goldring, Laurence Maher, Jill McKeough, 1998

The Hire-Purchase Act, 1972* (26 of 1972)

INTRODUCTION The growth and development of the system of hire-purchase can be traced to the advent of industrial development in the United Kingdom during the middle of 19th Century when a piano maker introduced the system of ...

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Financial Accounting: An Introduction

Hire-purchase An alternative way of financing the acquisition of an asset is through the use of hire- purchase. Under a hire-purchase agreement a finance company buys the asset and hires it to the business. Thus a business can acquire the ...

Aidan Berry, 1999

Lease, financing & hire-purchase: including venture capital, ...

In the Indian context.

Vinod Kothari, 1986

Business Law

B. Goods as security Conditional sale and hire-purchase When customers seek goods they often need credit, which can be given in various ways. If a seller allows payment by instalments, and makes no provision for when ownership is to pass ...

S. B. Marsh, J. Soulsby, 2002

10 NEWS ITEMS WHICH INCLUDE THE TERM «HIRE-PURCHASE»

Find out what the national and international press are talking about and how the term hire-purchase is used in the context of the following news items.

Furniture stores and the white ant of debt

SOMEONE has finally had the financial and administrative wherewithal to take on the dodgy hire-purchase strategies of furniture retailers. «BDlive, Jul 15»

4 Signs That Indian Agriculture Is Headed In The Right Direction

... and cold-chain infrastructure: technology is available and farmers are more than willing to accept it, especially where hire-purchase models, ... «Huffington Post India, Jul 15»

Close Brothers turns Regional Growth Fund grants to SME loans

Close Bros then arranges a hire-purchase scheme with the SME to fund the remaining amount. The bank said its RGF financing had largely ... «Financial Times, Jul 15»

Joint account risks

RESHMA and her sister-in-law, Mamta, were residing together when they set up a joint account with a hire-purchase company. Mamta used the ... «Fiji Times, Jul 15»

Ask Lifehacker: How Do I Become Independent?

Statistics are showing this is the biggest trap for young players there is, along with hire-purchase, radio rentals, 3yr-interest-free, payday loans, ... «Lifehacker Australia, Jul 15»

Used car finance - top tips

Hire-purchase agreements and personal contract plans – familiar to new-car buyers – can extend to used cars if you look in the right places. «CarBuyer, Jun 15»

Hire-purchase concerns

MANY of us prefer to buy goods on hire-purchase when we don't have ready cash, be it white goods, furniture or hi-tech electronic gadgets ... «Fiji Times, Apr 15»

Cheeky driver sold hire-purchase car to pay off loan sharks – while …

A MAN sold a car that did not belong to him to pay off loan sharks after he got into financial difficulties while being investigated in connection ... «Sunderland Echo, Mar 15»

Hire-purchase NPLs to stabilise this year: Fitch

FITCH RATINGS says the deterioration in the asset quality of Thai banks' automotive hire-purchase loans is likely to bottom out in the first half ... «The Nation, Mar 15»

Fitch: Thai Banks' Hire-Purchase Loans Asset Quality to Bottom Out …

The performance of banks reliant on hire-purchase loans suffered as a result. However, further downside is limited. The default risk on ... «Reuters, Mar 15»