SHOGUN FINANCE LTD V HUDSON

Shogun Finance Ltd v Hudson

Shogun Finance Ltd v Hudson

Introduction

There are a number of legal issues that take place daily in this world. To resolve these issues, a number of legislations are in place. The purpose and objective of these legislations is to avoid the circumstances that may give rise to any legal issue.

A legal issue is an issue that is closely associated with the law that is in practice and been imposed in that country. It may arise between different entities that are at least two in number. Legal issue can arise between corporations, a corporation and an individual, between individuals, and so on. There is no specific limitation for the participants who are a part of the legal issue. In simple words, it is a concern that arises from the law. To prevent such situations from arising, the legislations that are put in place should be strictly enforced so that they prove to be effective in avoiding such situations.

Legislations are done to avoid any undesirable situation in the country in all aspects. A number of such issues that had been associated with such an aspect from the past are of buying and selling. This had been the aspect that has a number of legal issues associated with it. It happens that a person or a company sells something to some other entity, but this results in the rise of a legal issue between the two sides. A number of such cases had been reported that involved legal issues over selling and buying of businesses and assets.

In the similar way, a number of legal disputes have arisen in the cases involving sale and purchase of vehicles between two sides. Like all other countries, the United Kingdom also has a specific set of laws for the purpose of maintaining order in the country in all domains and aspects. One of the sections of its legislation is dedicated to the area of sale and purchase of vehicles within the United Kingdom. It is so because this aspect can have a number of legal issues associated with it. The section 27 of the hire purchase act 1964 specifically addresses the topic of hire purchase in the United Kingdom.

Discussion

As mentioned above, the section 27 of the 1964 hire purchase act 1964 is a legislation regarding the topic of hire purchase. Hire purchase is basically a type of legal contract in which the entities or the persons normally agree to pay an amount for goods and other assets in parts or a specific percentage after a particular period of time. This type of contract initiated in the United Kingdom at first, but later on became common in a number of countries including New Zealand, Australia and South Africa. It is also known as by the term closed-end leasing (Legislation, 2013).

The hire purchase contract is usually made in circumstances when a buyer wishes to buy something, but at that moment is not able to pay ...