Hire‐Purchase Act

Arrangement of Sections

Preliminary

SECTION

1. Transactions regulated by this Act.

Operation and termination of agreements, etc.

2. Requirements relating to hire‐purchase and credit‐sale agreements.

3. Avoidance of certain provisions in agreements.

4. Conditions and warranties implied in hire‐purchase agreements.

5. Power of Minister to regulate terms of hire‐purchase and credit‐sale transactions.

6. Duty of parties to furnish information.

7. Appropriation of payments under hire‐purchase agreements.

8. Right of hirer to determine hire‐purchase agreement.

Recovery of goods, etc.

9. Restriction on recovery of goods otherwise than by action.

10. Powers of court in actions to recover goods.

11. Application of sections 9 and 10 of this Act to successive hire‐purchase agreements between same parties.

12. Effect of suspension of order for delivery up of goods.

13. Powers of court as to payments arising on determination of hire‐purchase agreements.

14. Adverse possession and conversion.

Control of advertisements

15. Advertisements subject to control.

16. Information to be included in advertisements.

17. Penalties.

Miscellaneous and general

18. Power of Minister to require information about hire‐purchase business, etc.

19. Power of Minister to exclude goods, etc., from operation of the Act.

20. Interpretation, etc.

21. Short title and extent.

SCHEDULE

Notice for inclusion in Hire ‐ purchase agreement

HIRE‐PURCHASE ACT

An Act to make provision with respect to hire ‐ purchase and credit ‐ sale transactions and advertisements relating thereto; and for purposes connected with the matters aforesaid.

[1st October, 1968] [Commencement.]

Preliminary

1. Transactions regulated by this Act

Subject to the provisions of section 19 of this Act, the provisions of this Act (other than the provisions relating to the control of advertisements) shall apply in relation to‐

(a) all hire‐purchase agreements and credit‐sale agreements (other than agreements in respect of motor vehicles) under which the hire‐purchase price or total purchase price, as the case may be, does not exceed two thousand naira; and

(b) all such agreements in respect of motor vehicles, irrespective of the hire‐purchase price or the total purchase price, being agreements made after the commencement of this Act; and the expressions "hire‐ purchase agreement" and "credit‐sale agreement" in the following provisions of this Act shall be construed accordingly.