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PART 1U.K.Consumer contracts for goods, digital content and services

CHAPTER 2U.K.Goods

What goods contracts are covered?U.K.

7Hire-purchase agreementsU.K.

(1)A contract is a hire-purchase agreement if it meets the two conditions set out below.

(2)The first condition is that under the contract goods are hired by the trader in return for periodical payments by the consumer (and “hired” is to be read in accordance with section 6(1)).

(3)The second condition is that under the contract ownership of the goods will transfer to the consumer if the terms of the contract are complied with and—

(a)the consumer exercises an option to buy the goods,

(b)any party to the contract does an act specified in it, or

(c)an event specified in the contract occurs.

(4)But a contract is not a hire-purchase agreement if it is a conditional sales contract.

Commencement Information

I1S. 7 in force at 1.10.2015 by S.I. 2015/1630, art. 3(a) (with art. 6(1))