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HIRE-PURCHASE ACT (NORTHERN IRELAND) 1966 - SECT 14

14.(1) Where a notice of cancellation operates so as to rescind a
hire-purchase agreement, a credit-sale agreement or a
conditional sale agreement,

(a)that agreement, and any contract of guarantee relating thereto, shall be
deemed never to have had effect, and

(b)any security given by the prospective hirer or buyer in respect of money
payable under the agreement, or given by a guarantor in respect of money
payable under such a contract of guarantee, shall be deemed never to have been
enforceable.

(2) On the service of a notice of cancellation, any sum which

(a)has been paid by the prospective hirer or buyer in respect of the goods to
which the relevant document relates, whether it has been paid before the
signature of the document or in pursuance of any provision contained in that
document, and

(b)is comprised (or would, if the document constituted a
hire-purchase agreement, a credit-sale agreement or a
conditional sale agreement, be comprised) in the hire-purchase price or
total purchase price or (if it is not or would not be so comprised) has in
pursuance of any antecedent negotiations been paid to, or for the benefit of,
the owner or seller, or has in pursuance of any such negotiations been paid
to, or for the benefit of, any person (other than the owner or seller) who
conducted those negotiations,

(3) Any obligation to pay any sum which, if it had been paid before the
service of a notice of cancellation, would have been recoverable by the
prospective hirer or buyer under subsection (2), shall be extinguished on the
service of such a notice.

(4) Any sum recoverable under subsection (2) shall be recoverable as a simple
contract debt in any court of competent jurisdiction.

© 1966 Crown Copyright

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