Transfer of ownership of goods sold under Hire Purchase System takes place when
- two instalment have been
- a quarter of the total price is
- half of the total price is paid
-
the final instalment is paid
The correct answer is: D
Explanation
In a Hire Purchase System, the buyer agrees to make a series of payments or installments over a specified period to the seller or financing entity. The buyer has possession of the goods during the payment period but does not have legal ownership until the final payment is made. Once the final installment is paid, the ownership of the goods is transferred t the buyer, and they become the legal owner.