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Law of Hire-Purchase

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QUESTION 1:
a) "In simple language, a misrepresentation is a representation that is untrue. It is a false statement made by one party to the contract to the other, before, or at the time of contracting, on which that other party relied on in contracting."
Per Abdul Malik Ishak J. in Travelsight (M) Sdn Bhd & Anor v Atlas Corp Sdn Bhd [2003] 6 MLJ 658. With reference to the Contracts Act 1950 and relevant cases, discuss the circumstances and elements of misrepresentations.

b) On 4 March 2013, Jalil, an antique collector, entered a contract for purchase of an antique watch, which was described in good faith, by Farid, the seller, as more than 100 years of age. Jalil paid the deposit of RM10 000 out of the total price of RM 50 000 and promised to pay the balance within one week. On 6 March 2013, while attending an auction for antiques, Jalil met Yati, who told him that she was the person who sold the antique watch which she inherited from her father, to Farid. Yati told Jalil that the watch is not very old as her father bought the watch on the day that Malaysia got its independence, i.e. on 31 August 1957. Jalil was very disappointed with what Yati told him and immediately sent an e-mail to Farid which sated that he intend to terminate the contract which he entered with Farid on the ground that there was a misrepresentation of fact. Jalil also wanted to claim back the RM 10 000 of deposit which he has already paid to Farid.
Advise Farid.

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Solution Preview

QUESTION 1:
a) "In simple language, a misrepresentation is a representation that is untrue. It is a false statement made by one party to the contract to the other, before, or at the time of contracting, on which that other party relied on in contracting."
Per Abdul Malik Ishak J. in Travelsight (M) Sdn Bhd & Anor v Atlas Corp Sdn Bhd [2003] 6 MLJ 658. With reference to the Contracts Act 1950 and relevant cases, discuss the circumstances and elements of misrepresentations.

Importance of statements made in regard to a contract, determine the elements of misrepresentation. If the injured party in a ...

Solution Summary

The law of hire purchase is discussed.

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Law of Hire-Purchase

QUESTION 2:
Karim bought a second hand Toyota Hilux from Jamin Baik Sdn Bhd. On 15 January 2012, he signed a hire-purchase agreement for the car with OUR Bank. The hire purchase agreement contained all the standard terms of a hire purchase agreement. Karim started paying the installments since February 2013. In October 2012, Karim met an accident and was hospitalized for 5 months. As a result of the accident, Karim who carried on his own business faced financial difficulties and failed to make three consecutive payments of the installment.

a) Advice OUR Bank on the legal action which they could take against Karim and the procedures which they should follow before repossession of the car.

b) Discuss Karim's legal rights under the Hire Purchase Act 1967 if OUR Bank repossesses the car.

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