HIRE PURCHASE AGREEMENT FOR A T.V. SET

HIRE PURCHASE AGREEMENT FOR A T.V. SET

HIRE PURCHASE AGREEMENT FOR A T.V. SET

HIRE PURCHASE AGREEMENT FOR A T.V. SET

THIS AGREEMENT made on thisday of.BETWEEN AB, etc. (hereinafter called the owner) of the one part
and CD, etc., (hereinafter called the hirer) of the second part and EF, etc., (hereinafter called the
guarantor) of the third part.

1. The hirer has agreed to take on hire a T.V. set ofmake No..;
2. The owner has agreed to give on hire the said T.V. set to the hirer under the terms and conditions
   hereinafter appearing ; and
3. In condition of the owner having delivered the said TV set to the hirer on the assurance of the said
   guarantor in accordance with the terms mentioned below :

NOW THIS AGREEMENT between the aforesaid parties WITNESSES as follows :

1. That the hirer has paid a sum of Rs..as the first instalment of the hire for the month commencing
   with..in advance of the date of this agreement (the receipt whereof the owner hereby acknowledges). The
   hirer shall hereafter pay a sum of Rs. per month in advance continuously and punctually on the ..day
   of.to the owner for the use of the said T.V. set at..(particulars of the house).
2. That in case the hirer pays to the owners punctually.. instalments as aforementioned, i.e., has paid a
   sum of Rsin all as hire as abov-mentioned till the date ofit shall be at the option of the hirer to become the
   owner of the said T.V. set on payment of Re. 1 to the owner in which event the hirer become the absolute
   owner of the said T.V. set. But until the actual payment of the total sum of Rs..paid monthly as hire and
   until the payment of Re.1 for option to purchase, the property in the T.V. set shall remain in the owner and
   the hirer shall be deemed to be merely a bailee thereof without any right to part with possession of the
   said T.V. set to be used or kept in custody by any other person. I shall, however, be open to the said hirer
   to pay the sum of Rs.including the sums already paid as hire by him as aforesaid before the final

payment of the last hire instalment as aforementioned and on payment of the said balance along with
Re.1 for option to purchase the same the hirer shall become along the owner of the said T.V. set. In case
the hirer shall desire to terminate this hirer agreement prior to the payment of the instalments of hire as
aforementioned, hirer shall be bound to pay at least the sum of Rs..(50 per cent of the price) to cover the
depreciation and the fall in price of the T.V. set.

The owner shall be entitled to terminate this agreement in
the event of the hirer making default in the punctual payment of the hire instalment as agreed to above.
In that event, the owner shall be entitled to seize the said T.V. set and take possession of it and the hirer
shall give access to the owner for such purpose and the owner shall not be liable to the hirer for such
action in any manner whatsoever.

The owner in such an event shall be entitled to recover from the hirer
all the hire instalments in arrear and in case such instalmets be less than 50 per cent of the orginial price
(viz. Rs) he shall be entitled to recover the balance that accrues after taking into account the previous
hire instalments paid to the extent to which the said payments do not equal the 50 per cent. Of the said
price of the T.V. set.

3. That in case the T.V. set is destroyed or injured in any manner while in custody of the hirer, the hirer
   shall be bound to get the said T.V. set repaired immediately and in the event of the non-repair the owners
   will be entitled to seize the said T.V. set and get it repaired and realise the said repairs besides his dues
   as aforementioned.
4. That the hire shall be bound to pay all public charges and licence fees until he becomes the owner of
   the said T.V. set as aforementioned and in default whereof, the hirer shall be liable for any damages to
   the owner. The hirer shall not be entitled to remove the said T.V. set from the aforementioned premises
   except with the consent in writing of the owner.
5. That in consideration of the owner having delivered the said T.V. set to the hirer on the terms as
   aforementioned the guarantor has agreed with the owner to guarantee the punctual and continuous
   payments of the hire instalments as aforementioned until either the hire agreement is terminated by the
   hirer or until all the hire instalments as aforementioned have been paid to the owner. The guarantor shall
   also be liable to the owner for any damages caused to the said T.V. set in any manner whatsoever whilst
   in custody of the hirer or until it is delivered in good condition to the owner in accordance with or pursuant
   to the terms of this agreement or until it is seized by the owner in the events aforementioned. The
   guarantor, his heirs and successors shall be liable to be truly bound by the terms of this agreement.

IN WITNESS WHEREOF, the parties hereto have signed this hire agreement with the option of purchase
as mentioned above.

EF AB

..

(Guarantor) (Owner)

CD

( Hirer)