HIRE-PURCHASE SYSTEM.
——♦ ASSIGNEE COMPLAINS OF ABUSES. [THE PRESS Special Service.] AUCKLAND,. September 23. Abuses to which the 'hire-purchase system was open were the subject of a reference to-day by the Official Assignee (Mr G. N. Morris), who said at a meeting of creditors that there was something ' that he" was not satisfied with in the law as it stood at present. It was possible for people to buy articles under hire-purchase agreement and to sell them without making it clear that there was still a debt on them. He referred especially to furniture and motor-cars, saying that a recent case had come under his notice where a debt of £IOO was owing on a car .without the buyer's knowledge, the car having been sold as one free of debt. "It means that it is getting risky, to purchase second-hand articles of any kind," said Mr Morris, "lest they, should be encumbered with debt." Mr Morris explained that the hire-purchase system was valid and effective for all purposes without registration.
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Press, Volume LXIII, Issue 19114, 24 September 1927, Page 5
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169HIRE-PURCHASE SYSTEM. Press, Volume LXIII, Issue 19114, 24 September 1927, Page 5
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