Hire Purchase Agreement In Respect Of Sewing Machine Legal Draft Template

This

Agreement made on this..day of..Between ab, etc., (hereinafter called

the owner) of the one part and cd, etc., (hereinafter called the hirer), of

the other part.wher

as the owner has lent to the hirer a sewing machine and accessories ;Now this

Agreement Witnesses as follows :1.

The

sewing machine and the accessories described by the endorsement on the back of

this agreement will remain in the use and possession of the hirer for a period

of 12 months ending onunless the agreement is term in atedsooner under the

power reserved in this agreement.2.

The

hirer has paid Rs. 30 as the first months rent in advance and has agreed to

pay to the owner a sum or Rs. every month regularly in advance on before the

5th day of each month.3.

The

hirer will keep the machine and accessories in good order and in his custody at

the above mentioned address and will not remove the same or seel or pawn if

without the consent of the owner.4.

The

owner will be at liberty to terminate this agreement on the failure of the

hirer to perform the terms of this agreement and retake possession of the

machine and the accessories.5.

The

hirer may also terminate agreement by delivering up the machine and accessories

in good order to the owner.6.

The

hirer may at any time during the hire become the purchaser of the machine and

accessories by paying in cash all the price endorsed on this agreement provided

the payments of hire are regularly made.7.

On

the termination of the hiring, the machine with the accessories shall be

returned to the owner and the owners right of lien of the machine shall not be

destroyed by any money decree or judgment that the owner may obtain against the

hirer.8.

If

the hirer fails to pay regularly in advance, the whole transaction will be

treated as one of without any option of purchase.in

Witness Where of the Parties Hereto have Signed this agreement on the Date and year

first Written Above.CD

AB.

.(Hirer)

(Owner)Witness..On

Reverse(1)

Particulars of the Sewing machine and accessories(2)

Price of Sewing machine Rs(3)

Price of accessories Rs..