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business law Question 2 Ricky bought an MPV (multiple-purpose vehicle) under a hire purchase agreement with BLM Bank Lid. He defaulted in his monthly instalments

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Question 2 Ricky bought an MPV (multiple-purpose vehicle) under a hire purchase agreement with BLM Bank Lid. He defaulted in his monthly instalments for the last two (2) months. Discuss the legal right of the BLM Bank Ltd. to repossess the MPV from Ricky and explain the rights legally available for Ricky in the event the car is repossessed. Support your answer with relevant statutory provisions and/or case laws. (25 marks)

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