a) Explain Hire Purchase as a form of security transaction.

What are the requirements to establish a Hire Purchase Transaction?

How is it different from a Conditional Sale?

Use case authorities or statutory reference from a country of your choice to support your answer.

(b) Mr. Jones approaches ABC Lending Ltd and borrowed 500,000VT. Pursuant to a registered Bill of Sale, Mr. Jones pledges several of his personal chattels as security for the borrowing. He defaulted in repaying the money. Advice ABC lending as to what rights and powers it has under the Bill of Sale Agreement.

Support you answer with case authorities