Beneficial interest on goods under a HP Agreement.

[JustAnotherPerson]

well it's either a contract of sale or it's not. If you are saying part of the agreement is a contract of sale then the HP agreement would effectively be two agreements, one contract of sale and the ther something else.

 

I'm sure you can see where I'm leading to with this which is why you avoided the question. It's a part hire agreement, part sale and he sale only kicks in at the end of the hire period.

[Peterbard]

well it's either a contract of sale or it's not. If you are saying part of the agreement is a contract of sale then the HP agreement would effectively be two agreements, one contract of sale and the ther something else.

 

I'm sure you can see where I'm leading to with this which is why you avoided the question. It's a part hire agreement, part sale and he sale only kicks in at the end of the hire period.

 

Yes and of course you have the wrong end of the stick. As in my example whatis left is the box, and what is left here is the HP the same as what there was for the sale, this is a hp agreement.

 

You see you keep struggling with the idea of there only being hire before the sale, well that is form as i have said, the function however is to provide payment for the car. I understand that you say, no its on hire.

You can say that and in form you would be right, but like it or not, each payments is reducing the amount owed on a sale agrement, so each payment made is to pay for the goods in question, a credit sale agrement. And the more paid the less is owed on that agreement.

 

This is a matter of fact. If this were not the case and all you were paying was hire, then when the agreement came to fruition you would have paid noting off the price of the car, so if you wanted to buy you would have to pay the whole purchase price.

A logical consequence of this means that each payment you make increases your interest in the goods.