Question One Hire-purchase is used as a mean to buy expensive items which a person cannot afford to pay outright and it is governed by the Hire Purchase Act 196'? [HPA]. Briey discuss the procedures as stipulated under the HPA that must be complied with by the owner before and during repossession proceedings. Do you consider that hire-purchase houses are relevant to be protected under HPA? Does Hire-Purchase Act 1967 cover all hire-purchase transaction? [10 marks] Question Two Negotiable instruments are governed by the Bills of Exchange Act 1949. Briey discuss the rationale and the characteristics of negotiable instruments. The purpose of crossing a cheque is to ensure that a bank strictly deposits the funds into an actual bank account. Explain the differences between a general and a special crossing on a cheque. {10 marks]