Explain the information that must be contained in the written memorandum of a hire purchase agreement for the agreement to be enforceable.

The following information must be contained in a written memorandum of hire purchase:

• A statement of the hire-purchase price and the cash price of the goods to which the agreement relates.
• The amount and the dates of payment of each installment.
• A notice setting out the hirer’s right under the contract.
• A copy of the contract that must be sent to the hirer within twenty one days of execution.
• Names of the parties.