WAEC Commerce 2019 Objective — Question 3
Question 3 of 50 from the West African Examinations Council (WAEC) Commerce 2019 Objective paper, with the correct answer and a full explanation.
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In a hire purchase contract, the customer becomes the legal owner of the goods by
- A. paying the last installmentCorrect
- B. paying the first installment
- C. taking possession of goods
- D. paying half the purchase price
Explanation
In hire purchase, ownership is transferred to the buyer only after the last installment has been paid.
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