[1] This is an appeal against the decision of the Sessions Court which had after a full trial dismissed the claim by the appellant (the plaintiff in the proceedings at the Court below) for balance of payment said to be due from the first, second and third respondents under a hire-purchase agreement.

[2] This judgment touches on an analysis of the legal nature of a hire-purchase, discusses its relationship with lending, and clarifies its relevance to the defined term of "finance company business" under the now-repealed Banking and Financial Institutions Act 1989 ("the BAFIA").

Key Background Facts

[3] The appellant is a company incorporated under Companies Act 1965, and is principally involved in the business of licensed money lending, hire purchase and equipment leasing. The respondents are partners in a business registered as Nur Enterprise under the Business Registration Act 1956 which activities include lorry transportation, rental of supply contract and wholesaler of construction materials.

[4] Pursuant to an offer made by the appellant as stated in a letter of offer dated 3 August 2012 (which was accepted by the respondents in writing), and a separate letter of authorization by