(1) The
following matters shall be specified in the hire-purchase contract
referred to in Section 624:
(a) The goods and short description thereof,
(b) Hire-purchase price of the goods,
(c) Cash price of the goods,
(d) The date of commencement of the contract,
(e) The amount of installment payable by the hirer to
the owner of goods and the number of
installments,
(f) The due date for payment of each installment and
the mode of payment,
(g) The person and place for the payment of amount
pursuant to clause (f).
(2) If an installment can be paid by any mode other than
cash pursuant to clause (f) of sub-section (1), a brief description
thereof shall be specified in the hire-purchase contract.
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(3) If a hire-purchase contract has been made without
specifying any of the terms and conditions referred to in this
Section, the hirer may sue for the rescission of such contract, and if
the court thinks that non-specification of any of such terms and
conditions in the contract is detrimental to the hirer, the court may
rescind such contract or issue any such other order as it thinks fit.
Explanation: For the purposes of this Chapter,-
(1) 'Hire purchase price' means the total amount to be paid
by the hirer to purchase or acquire the goods upon
payment of the full price of the goods, and also includes
an amount to be paid as deposit or down payment.
(2) 'Cash price' means the price to be paid in cash by
which the hirer may purchase any goods.