Concept:In a hire purchase agreement, the buyer is called the hirer because the asset is taken on hire until the final installment is paid.
Explanation:Hire purchase is a credit arrangement under which a buyer acquires goods by paying an initial down payment.
The remaining price, along with any interest, is paid in regular installments over an agreed period.
During this period, the buyer has possession and use of the goods, but the seller keeps ownership.
In the eyes of the law, the buyer is the hirer of the goods until the last installment is made.
Once the final payment is completed, the ownership of the goods automatically passes to the buyer.
The seller or finance company is known as the owner of the goods.
The buyer is not an agent, and the terms lessor and lessee apply only to lease agreements, not to hire purchase.
Answer:Option
B: hirer.