Credit_Transactions_Lecture_Notes

Credit_Transactions_Lecture_Notes - "...

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Unformatted text preview: ! ! " # ! ! $ ! % ! ! & ! ' ! ! ! ! ! ( " ! # & ! " ! " % & ' & $ ! ! ( & ! & & ) ! & & * ! O.H Akinladejo, Lecturer, School of Business Administration, UTech ! & 1 # & $ & + ! ! ! ( & ! ', - ! ( & ( . -/ ! ! ! 0 12 )! " & -/ ! ! ! #$ & & 3 " ! 4 4 # $ %, % & & # !5 $ ! ! ! ! O.H Akinladejo, Lecturer, School of Business Administration, UTech 2 " 6 & 4 7 " ! 1 " ! ! 8* 9 : ,",,," 9= < & : -",,, :-",,, ! ; ; ! * ! + ! 3 ! & ( " & ! 5 ! ) & 0! & & >! > ! & ! ! ! ! & ! * 4 4 > " < ! & ! > ! ! %' ! ! & ! ! + & # $ "% ) ? O.H Akinladejo, Lecturer, School of Business Administration, UTech 4 & " & & * ! 3 & ) & & ! & " & & " & " & & & 4 & % # $ "% & ) "& & 3 ! $ #' & ! % ! " & & ! "& * % 3 !5 * "& ' 3 < "& 9 ) & %- 4 ) & " ! * + ', * " * O.H Akinladejo, Lecturer, School of Business Administration, UTech & 4 ( & % ! # ' $ # $ "% '% & @ ! ! & & 5 * @ & ! ! + 0 ! + ! 2 ! A ! & ! ! & ! ! + + & & & 1 ! * ! ! " & + ! & & "& ', & 1 " ', 4 & " & > ! %. O.H Akinladejo, Lecturer, School of Business Administration, UTech 5 ( " & % 2 A #2A $ & 5 ! 2A ! " 1 % 2A " + + 0 & & & ! ' + & 4 % ' 1. Carlton went to ‘unique furnishings’ Kingston he entered into an agreement under which he would be allowed to take away a set of living room furniture on payment of the first installment of $1000. The contract stated that his monthly installment would be $1000 for 40 months. Carlton consistently paid the installments for 12 months after which he lost his job. Carlton did not take care of the furniture. i. Can Unique Furnishings wants to take back the furniture from Carlton? Why? ii. Would your advise be different if Carlton had paid 30 months installments before he lost his job? State reason(s) for your answer. 2. Explain the similarities and differences between hire-purchase, credit sale and conditional sale agreement. 3. i. X enters into a contract with Y for the sale of a car. X is to pay in three installments. ii. If Y stipulates that ownership of the car passes to X immediately what type of contract is it. iii. If Y stipulates that ownership of the car will not pass until Y finishes the payment, what type of contract is it. O.H Akinladejo, Lecturer, School of Business Administration, UTech 6 ' ) ) * ) '"B ! 2 @ ! 1 , " 6 ! B 6 C "B ) ! E2 @ @ @D ) : -,",,, 4 ! @ 6 6 : -,",,," 6 4 D 4 C ! 1 @ + B . "6 ! ! & 4 ) 6 @ 6 @! ! 6 :%-,",,, + 4 ! C @ & @ B & @! & + : -,",,, ( 6 4 B O.H Akinladejo, Lecturer, School of Business Administration, UTech 7 + $,( ) -... E2 ! ? D ! " " + & ! 4* ! D F " & ! 2 ! & " ? " & G ! & " & & ! & ! & ! + "! " & ! + $,( O.H Akinladejo, Lecturer, School of Business Administration, UTech */// 8...
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