Schedule 4., Part I, paragraph 18(2)

“hire-purchase agreement ” means an agreement, other than a conditional sale agreement, under which— goods are bailed in return for periodical payments by the person to whom they are bailed, and the property in the goods will pass to that person if the terms of the agreement are complied with and one or more of the following occurs— the exercise of an option to purchase by that person, the doing of any other specified act by any party to the agreement, the happening of any other specified event.

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Source: legislation.gov.uk · retrieved 2026-07-30