196, held Sample Clauses

196, held. “In a hire-purchase agreement, an acknowledgement by the hirer which relates to past events as in this case and not to what was to be done in the future does not constitute an estoppel unless the matters necessary to constitute an estoppels at common law are strictly proved.” Emphasis MineThe owner under the act can recover his good through action in court. Under the Act, the right to recover possession of the goods is now determined by the relevant proportion of the total hire purchase price paid or tender by the hirer to the owner. Furthermore, there are restrictions on the recovery of goods otherwise by an action provided for under section 9 of the act. Subsection (1) of the said section (section 9) provides that “where the goods have been let under a hire purchase agreement and the relevant proportion of the hire purchase price has been paid (whether in pursuance of a judgement or otherwise) or tendered by or on behalf of the hirer or any guarantor, the owner shall not enforce any right or recover possession of the goods from the hirer otherwise than by action and except as provided by subsection (5) of this section”Section 9(5) provides for the right of removal of the Hire Purchase goods by the owner. At first glance at section 9 of the Act, one may see the section as having relaxed the restricted right of repossession of goods after the payment of the relevant proportion, but a closer examination, especially the judgment handed down in Tabansi (Agencies) Ltd. v. Incar Nigeria Ltd (CCHJ//7/74), shows that it has not done away with the necessity of an owner to institute an action in such circumstances as a condition precedent for embarking upon the exercise of the right to repossess. Quite apart from complying with this mandatory provision, an owner who is desirous of invoking section 9(5) in a situation where the hirer after paying the relevant proportion of the Hire Purchase price, decides to breach the agreement, is saddled yet with the following duties:He must keep the removed goods in his possession and protect them from damage or depreciation;Retain it (in any premises he should determine) pending the determination of any action; andHe shall be liable to the hirer for any damage or loss which may be caused by the removal.Before an owner can exercise the right of repossession under section 9(5) of the Act or even file for an action against the hirer in court, the hirer must have defaulted in payment for the third time or any other conditions of th...
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  • Purpose The purpose of this Agreement is to identify the terms and conditions of the relationship between TIPS and Vendor. Public entities and qualifying non-profits that properly join or utilize TIPS (“TIPS Members”) may elect to “piggyback” off of TIPS’ procurements and agreements where the laws of their jurisdiction allow. TIPS Members are not contractual parties to this Agreement although terms and conditions of this Agreement may ensure benefits to TIPS Members.

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