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WAEC Commerce 2019 Question 39

Question 39

Purchase and Sale of Goods

An agreement in which Philip paid half the price of a car and accepted to pay the rest in instalments is a

  1. A.conditional sale contract.
  2. B.credit sale contract.
  3. C.hire purchase contract.
  4. D.haulage contract.
Show the answer and explanation

Answer: C (hire purchase contract.)

Explanation

Paying a deposit and the balance in instalments is the usual form of a hire purchase agreement.