hire-purchase agreement "hire-purchase agreement" means, in relation to an aircraft, an agreement for the letting of the aircraft with an option to purchase and includes an agreement for the purchase of the aircraft by instalments, whether the agreement describes the instalments as rent or otherwise, but does not include an agreement for the purchase of the aircraft under which- (a) property in the aircraft passes absolutely at the time of the agreement to the person who agrees to purchase the aircraft; or (b) the purchaser is a person who is engaged in the trade or business of selling aircraft; PU(A) 139/1996 - CIVIL AVIATION REGULATIONS 1996 2. Interpretation.
hire-purchase agreement "hire-purchase agreement" includes a letting of goods with an option to purchase and an agreement for the purchase of goods by instalments (whether the agreement describes the instalments as rent or hire or otherwise), but does not include any agreement - (a) whereby the property in the goods comprised therein passes at the time of the agreement or upon or at any time before delivery of the goods; or (b) under which the person by whom the goods are being hired or purchased is a person who is engaged in the trade or business of selling goods of the same nature or description as the goods comprised in the agreement; ACT 212 - HIRE-PURCHASE ACT 1967 (Revised 1978) 2. Interpretation.