Business Law

QUESTION 4 1. ABC Bank bought a car from ABC Used Car and lets out to Mamat on hire-purchase agreement. The car was subsequently seized by the police on suspicion of being a stolen property. Advise both ABC Bank and Mamat. (10 Marks) 2. ABC Trading Sdn. Bhd. entered into hire-purchase agreement/al-ijarah thumma al-bay with one of Islamic Bank for the purchase of a van as a transport to supply liquor to various 24-hours Convenience Store. Discuss the validity of this contract under Common Law and Islamic Law perspectives. (10 marks) (20 MARKS)