Dealer Agreement Is

c. Minimum payment clause.-A lease-sale agreement may be terminated by the landlord or tenant and the tenant may return the item to the landlord after the termination of the contract. However, since items are subject to customary wear and tear due to the user, it is customary to include a minimum payment clause in the contract to provide for the amortization of the lease item. Such a clause provides that, in the case of a contract entered into by the landlord or tenant, the tenant must pay 50% of the total price after deducting the payments already paid by the tenant. The transaction participates in a contract or has added a sales element. In such an agreement, the owner of the goods, so that they have no rent for regular payments by the tenant by appointment that, if a certain number of payments by the tenant according to an agreement that, if a certain number of payments have been made, the absolute ownership of the goods will go to the tenant, but so that the tenant can pay the goods at any time without having to pay the rest of the rent after the return; Until the conditions are met, the property remains with the owner. In this agreement, the tenant is not obliged to buy the rented thing, he has an option, he cannot or cannot buy. However, in both cases, where there is an obligation to purchase or an option to purchase, the goods delivered by the owner to the lessor are delivered on the terms under which the tenant benefits from the use of the goods through the payment of a premium and a certain number of payments; which, in the end, may become his property, is one of the operations of the rental buyer, even if the property of the goods remains in the hands of the owner and passes to the tenant only when a particular event has occurred, namely that all the agreed tranches have been paid or that the tenant has made use of his option to make the purchase in exchange for payment of a nominal amount or otherwise. [Temperament Supply (P) Ltd v Union of India, AIR 1962 SC 53, 58: Sundaram Finance Ltd. v. State of Kerala, AIR 1966 SC 1178]. iv Parties .-Normally, there are two parties to the lease-purchase agreement, that is, the landlord and the tenant.

However, it happens that a lessor of . B for motor vehicles is also consulted as a necessary party, who buys the vehicle from the owner and rents the same vehicle in installments to the tenant, and in this case, the tenant must also provide a guarantor to ensure the performance of the obligations that were imposed on the tenant under the agreement. The position of the property owner under a lease-sale agreement is that of a person who made an irrevocable offer to sell but did not make a purchase obligation. [Helby v. Mathews, (1895) AC 471; Lee v. Butler, (1893) 2 Q.B. 318]. D The essence of the lease-purchase is that the tenant is not obliged to buy. [Dalpat Rai v. Manohar Lal – Sons, AIR 1974 Raj. A lease consists of two elements; (I) lease element and (ii) an integral part of the sale, in the sense that it is considering a possible sale. The purchase element is fruitful if the option is exercised by the intentional buyer after the execution of the contractual terms.

If all the terms of the contract are met and the option to purchase is exercised, a sale of the leased goods up to that point will take place. [K.L. Johar – Co. v. Dy. CTO, AIR 1965 SC 1082, 1090. The trader will compensate the company, our affiliates and our senior executives, directors, employees, representatives and shareholders, as well as our rights holders of the assignment, heirs, legal representatives and successors (together the “Zenbooth Group”) of all costs, losses, debts, damages, complaints, appeals, judgments, claims, shares, penalties, fines and expenses (including, but not limited to interest, penalties, reasonable legal fees and all funds of the investigation , the defence or settlement of any or all of the above obligations (“rights” resulting from the violation or omission of your insurance, guarantees, obligations, obligations or obligations under this agreement; (b) negligence, misrepresentation, other acts or offences (including breach of warranty) or legal obligation on your part or one of your representatives or dealers; (c) your non-compliance