Economics · Commercial Law
Consider the following statements with reference to the statutory proportion of Hire Purchase Price of goods (other than motor cars) required to prevent repossession without court intervention as per Section 20 of the Hire Purchase Act, 1972: 1. 1/2 of the Hire Purchase Price if the price is less than ₹15,000. 2. 3/4 of the Hire Purchase Price if the price is ₹15,000 or more. Select the correct answer from the code given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both 1 and 2✓
- 2Neither 1 nor 2
- 3Only 1
- 4Only 2
Correct answer
Both 1 and 2
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