Concept:Ownership in hire purchase is transferred only after the entire purchase price has been settled.
Explanation:In a hire purchase agreement, the buyer receives the goods immediately and makes a down payment followed by regular installments.
The seller legally keeps ownership of the goods during this period.
Paying the first installment only grants the buyer the right to possess and use the goods, not to own them.
Similarly, paying half of the price does not transfer ownership because some installments remain unpaid.
Ownership of the goods passes from the seller to the buyer only when the final installment is paid and the full price has been completed.
The buyer then becomes the legal owner of the goods.
Answer:A. When all installments have been fully paid.