Right to use or benefit from property
Pay installments.
A hire-purchase is a contract whereby an owner of a property (lessor) lets it out on hire and promises to sell it to, or that it shall become the property of, the hirer(lessee) , conditionally on his/her making a certain number of payments
The lessee has the right to use or receive benefits from the leased property on the condition that a rent amount is paid to the owner (lessor) by installments. However, the ownership title of the property stays with the owner(lessor) and when all rent amounts had been paid as according to the contract , the lessee will automatically receive ownership title of the property.
Mod works for M-3 department store. He is a store assistant in the electical appliances section of the store. One weekend Mod brought a latest model notebook computer home. Mod subsequently had a written hire-purchase contract with his friend Troy. Mod agrees to sell the notebook computer to Troy for 60000 baht after Troy have paid 12 monthly installments to Mod at 5000 baht per month.
After the 12 montly installment payments by Troy, Mod cannot transfer the ownership title of the computer yo Troy because the computer is owned by M-3 department store. Is there anything Troy can do now?