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e. Komosa Limited entered into a Hire- Purchase agreement with Mr. Gyeabour over a car. The agreement was to last for a period of 4
e. Komosa Limited entered into a Hire- Purchase agreement with Mr. Gyeabour over a car. The agreement was to last for a period of 4 years of monthly instalment. The instalment arrangements went on for three and half years till Mr.Gyeabour decided to terminate the arrangement and stopped paying the instalment. For the remaining period, the Company had no news of Mr. Gyeabour or the car. When the car was later found, the air conditioning compartment was in a bad state of disrepair. The Company now intends to sue Mr. Gyeabour who has resurfaced. Mr. Gyeabour is now pleading with the Company for mercy. Required: i) Describe TWO basic requirements that should be outlined in a Hire Purchase Agreement. (2marks) ii) Explain to Mr. Gyeabour TWO steps he should have taken in respect of the termination the damaged car under the Hire-Purchase Act, 1974 NRCD 292. (3 marks) [5 marks] f. Yaa Konadu purchased a car from Kofi Apenteng, two months later, it was discovered that the car was a stolen property before it was acquired by Apenteng and both parties were innocent. Konadu had to give back the car through the police. Apenteng had no title to pass on and so Konadu sued him for the refund of the whole of her money despite the fact that she had used the car for two months. Advise the parties
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