If the seller has the resources and the legal right to sell the goods on credit (which in most countries usually depends on a licensing system), the seller and owner will be the same person. But most sellers prefer to receive a cash payment immediately. To do this, the seller transfers ownership of the goods to a financial company, usually at a reduced price, and it is that company that makes the goods and sells them to the buyer. This establishment of a third party complicates the transaction. Suppose the seller makes false claims about the quality and reliability of the goods that encourage the buyer to “buy”. In a conventional sales contract, the seller is liable to the buyer if these representations prove to be false. In this case, the seller issuing the representation is not the owner who sells the goods only after payment of all payments to the buyer. To combat this, some jurisdictions, including Ireland, place the seller and the financial house jointly liable for breaches of the sales contract. 14. The tenant cannot rent or lend these machines and equipment on another basis or allow them to be used by another person without the prior written consent of the company, and must not align them with a person to ensure payment of the money. These terms and conditions of sale of the lease-sale are an integral part of the lease agreement between the buyer and the seller (hereafter the contract).
The contract consists of the specific terms agreed between the contracting parties (hereafter specific terms), these Terms and Conditions, the Payment Plan and other Annexes, including any subsequent changes and additions to be introduced in the future. Leasing is a financing agreement that allows you to buy your car for a certain period of time. An HP agreement is divided into two parts: the first deposit followed by a period of monthly payments. At the end of the agreement, you own the car and you have the choice to keep the car or spare and upgrade parts. These agreements are usually 24 to 60 months, most coming in at 48 months. The contract usually includes the condition that the goods do not belong to you until you have paid the last installment and the lender can take back the car if you fall back with the payments. (7) During the period of application of this agreement, the tenant maintains these machinery and equipment in good condition and maintains them properly, as a prudent man would, and replaces any lost or unused or broken parts.