Hire Purchase Agreement In Sinhala

The provisions of this Act shall apply to all leases entered into in Sri Lanka after the coming into force of this Act. (b) an implied condition on the part of the landlord that the tenant has a reasonable opportunity to compare the mass with the sample. (a) the contract is entered into and signed by or on behalf of the lessee and all other parties; 3. If the net purchase charges related to a lease agreement exceed the statutory charges calculated in accordance with the provisions of paragraph 2 for that contract, the lessee shall be entitled to a reduction in his liability by the amount whose net rental costs exceed the above-mentioned statutory charges. (a) where the lessee has inspected the goods or similar goods and, at the time of his inspection, banknotes or labels have been affixed to the goods or have been concealed with which the price in cash is clearly indicated, either the goods as a whole or all the different articles or groups of goods contained in the goods; or 18th right of the owner to terminate the rental agreement in case of late payment or unauthorized act or violation of explicit conditions. (c) the agreement contains a communication at least as important as the residual content of the agreement, under the conditions set out in the list of this Law; and 5. Where, under a rental contract, the goods are sold or agreed by description, there is an implicit condition for the goods to conform to the description; and if, in accordance with the contract, the product is sold or is agreed upon by reference to a model and by description, it is not sufficient for the majority of the product to conform to the model if the product does not conform to the description. (vi) any amount to be paid as a business turnover tax or as another tax fixed in the contract of sale, which is a tax on the rental or sale of the goods; (f) `statutory rights` means, in the context of a rental agreement, the amount calculated in accordance with paragraph 2. 4. If the lessee is entitled to a reduction in his liability by the amount referred to in paragraph 3, his liability shall be reduced by that amount and may be set off by the lessee against the amount that would otherwise be due under the contract and, to the extent that he is not so invoiced, the lessee may be recovered by the owner of the claim due to him. (iv) where applicable, the amount to be paid as installation costs, indicated in the contract and included in the lease purchase price; 29. avoid certain provisions in lease purchase agreements.

4. An instalment purchase contract may be applied under the conditions of non-compliance with the provisions of paragraph 1 or paragraph b or paragraph c or d, paragraph 2, or paragraph 3, if the court in which legal action is brought for the application of this Agreement is satisfied that such omission has not prejudiced the lessee and that it would be, in any case, fair and cheap. Circumstances of the case for enforcing such an agreement….

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