subject:comercial law (malaysia )

Describe the importance of rules and regulations in business environment.

scenario:Ah Pong uses a lorry to transport the fertilizer to his farm everyday.The lorry was under a hire purchase agreement with Syarikat Bintang Sdn.Bhd(SBSB) for FIVE(5) years will be wholly owned by Ah Pong after the hire purchase agreement ended in 2018.On May 2015 Ah Pongs farm was destroyed by big flood and he failed to pay the instalments for TWO(2) months.In August 2015 and without any notice,three agents from SBSB tried to repossess the lorry using machete and Ah Pong used force to evict them.SBSB company not satisfied with that situation and wanted to take legal action against Ah Pong for preventing them from repossessing that lorry.

Meanwhile Ah Pong also has a van that he hired from SBSB for the purpose of delivering flour cake to all cake shops in Alor Setar.According to the hirepurchase agreement,the agreement will end in November 2017.On January 2017,Ah Pong had a heart attack and a week after that passed away.After SBSB did not receive payment for TWO(2) months,SBSB sent a notice to repossess that van.Alice,Ah Pongs daughter did not agree with SBSBs action and claims that the notice is invalid.Alice also claims that that she has the right to continue the agreement.

REQUIRED:

(i) Describe a hire-purchase agreement.

(ii)State the various types of goods covered by the Hire-Purchase Act 1967.

(iii)Explain FIVE(5) of the statutory rights[provided under the Hire Purchase Act 1967] of hirers under a hire-purchase contract.

(iv)Discuss the legal position of all the parties concerned.