Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suzy went to Black Pink Electrical Shop, and was interested in purchasing a television, a microwave, a washing machine and a refrigerator for her new
Suzy went to Black Pink Electrical Shop, and was interested in purchasing a television, a microwave, a washing machine and a refrigerator for her new home. However, she did not have enough cash and the owner of Black Pick Electrical Shop suggested that she enters into a hire-purchase agreement with RunningMan Finance Co which provides financial assistance. Suzy agreed and was asked to sign a hire-purchase agreement. The agreement is for all the goods but it does not state how much she has to pay monthly, the term charges and the number of instalments she has to pay in total. When she enquired, she was told that the details will be filled in later and that she should just sign it first. Suzy requested a copy of the agreement to be given to her. 3 weeks have passed since she signed the agreement, but she has not received a copy. Instead, RunningMan Finance Co asked Suzy to pay for the first monthly instalment. Suzy is not sure of the validity of the hire-purchase agreement. Advise Suzy on this matter
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started