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WAEC Commerce 2017 Question 22

Question 22

Purchase and Sale of Goods

In a hire purchase agreement, the buyer is the

  1. A.agent.
  2. B.hirer.
  3. C.lessee.
  4. D.lessor.
Show the answer and explanation

Answer: B (hirer.)

Explanation

Under hire purchase the buyer is called the hirer and the seller the owner.