hire-purchase

noun

HPh.p. US and Canadian equivalentsinstalment planinstallment plan
1. a system for purchasing merchandise, such as cars or furniture, in which the buyer takes possession of the merchandise on payment of a deposit and completes the purchase by paying a series of regular instalments while the seller retains ownership until the final instalment is paid
2. ( as modifier )
  hire-purchase legislation

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Many undertakers carry out wiring on the easy payment or hire-purchase system.

X 31, a woman, has obtained jewellery on the hire-purchase system.

If this is the "hire-purchase system," a piano-less life is infinitely preferable to braving its manifold perils and penalties.

For the system of purchase by deferred payments or instalments see Hire-Purchase Agreement.

This was an extension of the hire-purchase plan (buying on credit) initiated by Clark of the Singer Company.

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