Orders of the Day — HIRE-PURCHASE (No. 2) BILL [Lords] – in the House of Commons at 12:00 am on 24 June 1964.
Sir David Price
, Eastleigh
I beg to move, in page 11, line 18, at end insert:
(4) Where the prospective hirer or buyer recovers from the dealer a sum equal to the part-exchange allowance, then, if the title of the prospective hirer or buyer to the goods agreed to be taken in part-exchange has not vested in the dealer, that title shall so vest on the recovery of that sum.
Clause 9 deals with the case where the dealer has taken goods in part exchange and the hirer subsequently exercises his right to cancel the transaction. It provides that, unless the dealer redelivers the goods taken in part exchange within ten days, the prospective hirer or buyer can recover a sum equal to the part exchange allowance. The Amendment adds a new subsection to make clear that when this sum has been paid the prospective hirer's title to the goods given in part exchange will be vested in the dealer.
Sir David Price
, Eastleigh
I beg to move, in page 11, line 29, at the end to insert:
or, if no such sum was agreed, the part-exchange allowance shall be taken to be such sum as in all the circumstances it would have been reasonable to allow in respect of those goods if no notice of cancellation had been served.
Clause 9(2) provides that in a case where a dealer has taken goods in part exchange and the prospective hirer or buyer subsequently exercises his right to cancel the transaction he can, in certain circumstances, recover a sum equal to the part exchange allowance. That allowance is defined in Clause 9(4,b).
During the debate in Standing Committee, my hon. Friend the Minister of State promised that further consideration would be given to an Amendment moved by the hon. and learned Member for Liverpool, Edge Hill (Mr. A. J. Irvine) to cater for the case where no part exchange allowance had been agreed between the dealer and the prospective hirer or buyer. The Amendment makes the necessary provision.
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