1) Which of the following statements is TRUE about a hire purchase agreement?

A. A hirer will obtain the legal ownership of the goods once he has paid more than 75% of the price of the goods

B. A hirer may not dispose of the goods before making full payment to the owner of the goods

C. The owner may take possession of the goods any time before the hirer completes the payment of the hire purchase

D. In the event the hirer terminates the hire purchase agreement, he is entitled to a refund of the instalments he had paid to the owner

2) Rosiah entered into a hire purchase agreement with Lucky Finance six months ago. She has not received any copy of the hire purchase agreement. What is the legal implication of this under the Hire Purchase Act 1967?

A. The contract is void

B. The contract is valid

C. The contract is voidable

D. The contract is unenforceable

3) Roshan has lost his job and wishes to assign his rights, title, and interest in the hire purchase agreement of his car to his cousin Reshma. Which of the following falls under the situation where the owner would be considered to have unreasonably withheld such consent to the assignment?

A. The owner demands that Roshan settles last month's unpaid instalment

B. The owner demands proof that Reshma can afford the payment of the instalments under the hire purchase agreement

C. The owner demands that Roshan pay RM350 to obtain the consent

D. The owner demands that Roshan pay RM50 to register the assignment

4) Mickey entered into a hire purchase agreement with Hebat Finance for the purchase of a bus. Mickey had defaulted in three installments and Hebat Finance wishes to repossess the bus. However, Mickey cannot be located despite all the efforts made to find him. What should Hebat Finance do in this situation?

A. Hebat Finance can repossess the bus without serving any notice for repossession

B. Hebat Finance can publish a notice for repossession in the newspapers and repossess the bus 21 days after the notice has been published

C. Hebat Finance can serve the notice of repossession to Mickey's family members and guarantors (if any) and repossess the bus 21 days after the notice has been served

D. Hebat Finance can serve the notice of repossession to Mickey's last known address and repossess the bus 21 days after the notice has been served

5) Which of the following actions may be taken by the parties after the expiry of the Fifth Schedule notice of the Hire Purchase Act 1967?

i. The hirer may request the owner to sell the goods to a person introduced by the hirer for cash, at a price of not less than the estimated value of the goods

ii. The hirer may pay the amount in default only

iii. The hirer may remedy all the default and resume the hire purchase agreement

iv. The seller may sell the goods to anyone through a private sale

A. i and ii only

B. ii and iv only

C. i and iii only

D. iii and iv only