HIRE-PURCHASE AGREEMENT IN RESPECT OF SEWING MACHINE

                                                HIRE-PURCHASE  AGREEMENT IN RESPECT OF

                                                            SEWING MACHINE

            THIS AGREEMENT  made on this…………..day of………………..BETWEEN AB, etc., (hereinafter called the “owner”) of the one part   AND CD, etc., (hereinafter  called the ”hirer”), of the  other part.

            WHERAS the owner has lent  to the hirer a sewing machine and accessories ;

            NOW THIS AGREEMENT WITNESSES  as follows :

1.         The  sewing  machine and the accessories  described  by the endorsement

on  the back of this agreement  will remain  in the  use and possession of the hirer for a period of 12 months ending on…………unless the agreement  is term in atedsooner under the power reserved in this agreement.

2.         The hirer  has paid Rs. 30  as the first month’s  rent in advance and has

agreed  to pay to the owner  a sum or Rs.  every  month  regularly in advance  on

 before  the 5^th  day of each month.

3.         The hirer will keep   the machine  and accessories  in good order and in his   custody  at the above  mentioned  address and will not remove  the same or seel or pawn if without the consent  of the owner.

4.         The  owner  will be at liberty  to terminate this agreement  on the failure of the hirer to perform the terms of this agreement  and retake possession of the machine  and the accessories.

5.         The hirer may also  terminate agreement by delivering up the machine  and accessories  in good  order to the owner.

6.         The hirer  may at any time  during the hire become the purchaser of the machine  and accessories  by paying in cash all the price endorsed on this agreement  provided the payments of hire are regularly  made.

7.         On the termination of the hiring, the machine  with the accessories  shall be  returned to the owner and the owner’s  right of lien of the machine shall not be destroyed by any money decree  or judgment  that the owner may  obtain against the hirer.

8.         If the hirer  fails to pay regularly in advance, the whole transaction will be treated as one of without  any option  of purchase.

            IN WITNESS WHEREOF the parties  hereto have signed  this agreement on the date and year first written above.

            CD                                                                                                      AB

………………….                                                                               …………………….

    (Hirer)                                                                                                         (Owner)

Witness……………………..

On Reverse

(1)       Particulars of the Sewing machine and accessories……………

(2)       Price  of Sewing  machine Rs…………………

(3)       Price of accessories Rs……………………..