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Cred4 Sales : New Definition
1st May 1953, Page 70
1st May 1953
Page 70
Page 70, 1st May 1953
— Cred4 Sales : New Definition
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A CREDIT sale agreement has been
redelined by the Hire-Purchase and Credit Sale Agreements (Control) (Amendment No. 3) Order, 1953, which came into force on April 16. It is now defined as " an agreement for the sale of goods under which the whole or part of the purchase price is payable by instalments other than such an agreement which provides for the instalments to be spread over a period of less than nine months."
The new Order exempts the Londontype taxicab from hire-purchase control. It also allows hire-purchase agreements to provide for the settlement of the balance by a single payment to be made within three months from the date of the agreement.