Business law 416

QUESTION 1 Wani went to Automobile Best Dealer (ABD) to buy a car. After test driving the car, she discussed with the sales manager of ABD regarding payment. The sales manager of ABD suggested that Wani obtains financing from Bank Cepat so that she can pay for the car by instalments. He also explained briefly on the price of the car and the number of instalment payments spread over 5 years. Wani was asked to pay a booking fee of 15% of the hire-purchase price and told that the car will be delivered to her 1 week after she signs the hire-purchase agreement. The next day, Wani went to Bank Cepat to sign a hire-purchase agreement. In the agreement, the hire-purchase price of the car was stated as RM80,000. However, apart from the price, other details were missing. The bank officer asked her to sign the agreement first and assured her that the bank will complete the details after she signs it. Wani was asked to pay a minimum deposit of 25% of the hire-purchase price, which she paid reluctantly. Three days later, she received the completed agreement but was shocked to see that the hire-purchase price had been changed to RM90,000 and instead of 5 years, the hire-purchase duration is 7 years. Wani does not want to proceed with the agreement and wants to know if the agreement is valid. Advise Wani on the above situation by applying the Hire-Purchase Act 1967 and relevant cases. (20 marks)