JUDGMENT

KANIA, J. :— This is an appeal by Special Leave granted under Art. 136 of the Constitution of India against the judgment of a Division Bench of the Bombay High Court (Nagpur Bench) in First Appeal No. 152 of 1972, the judgment having been delivered on Dec. 12, 1972.

2. The appellants are a firm registered under the Partnership Act. 1932 and inter alia carry on the business of hire-purchase of automobile vehicles. The appellants were the owners of a diesel truck complete with tools and other accessories. On January 24, 1962 respondent No. 1 hired the said truck from the appellants under a Hire-Purchase Agreement in writing of the same date. Under the said agreement, respondent No. 1 agreed to pay to the appellants a sum of Rs. 10,000/- as initial hire charges and certain monthly hire charges. It was provided under the said agreement that on the payment of all the monthly hire charges and other amounts payable under the agreement on the respective due dates and fulfilment of the other terms and conditions of the agreement. respondent No. 1 would have the option to purchase the said truck. However, if any of the monthly hire charges were not paid or there was a breach of any o