HIRE PURCHASE SYSTEM

Gisborne Herald, Volume LXVI, Issue 20040, 12 September 1939, Page 2

HIRE PURCHASE SYSTEM

CRITICISM OP NEW BILL CHRTS TCTT.UR CIT OPINION j Criticism of the Hire Purchase Agreements Bill, which has been introduced in the House of Representatives, was expressed at a meeting of the Canterbury Chamber of Commerce. The clause dealing with the valuation of repossessed goods was quite unworkable, said Mr. V. L. Hamilton. It seemed as if every case would have to go to court. There were many factors to be considered. Some goods had to be reconditioned after repossession, and others were of such a special nature that buyers of them took a very long time to find.

General comment on the bill expressed in a special report before the chamber was as follows: — I “The bill is an attack on the principle of the hirepurchase agreement, which is that until the whole of the hire is paid the chattel belongs to the vendor. This principle should not be lightly thrown aside. “Unless care is exercised,” the report went, on, “the hirer will suffer no penally for non-fulfilment of the contract, and it must be remembered that in many cares of repossession the hirer has moved to be a man of straw.” It was stated that the only alteration so far made to the bill dealt with the restraining of hirers from selling goods until they were completely paid for.