Hire purchase – Repossession – Purchaser remains merely a trustee/bailee on behalf of the financier/financial institution and ownership remains with the latter – Thus, in case the vehicle is seized by the financier, no criminal action can be taken against him as he is re-possessing the goods owned by him. [PLRonline #1324501]
Hire purchase - In an agreement of hire purchase, the purchaser remains merely a trustee/bailee on behalf of the ...
