my uncle have shop of hardware in Mumbai . he have brought delux colour machine on agreement from the co. officer who visited the shop and told that they just pay the installment and after last installment the machine will be yours.my uncle also sign the lease agreement given by the company.
now the sale of the product is poor and therefore not taking any stock from the company therefore salesman and officer of the company are insisting o take stock of rs.50000 otherwise we will take action against you and t also we also took the machine from shop.
there is no clause in agreement that the shop keeper should buy a specific amount of stock in year . uncle also paid each and every installment if company on time. but after this situation uncle ask how you can claim the machine i have paid all the installment and i m ready to pay further. the co officer replied machine is not yours the agreement made beetween you and co is of lease agreement. now what action shold be taken by the uncle ti save the machine from comapny officer.
1 Answer from Attorneys
You should refer to the terms and conditions of the lease Agreement with the Company. The very fact that your uncle is ready to pay the remaining installments on the first sample machine implies that the product is in demand and has a market. Since your uncle is in business, he will stock one sample machine in his hardware shop and book purchase orders from walk-in customers for that machine taking part advance payment. The total value of orders booked by your uncle on that machine and forwarded to the Company for supply may be to the tune of Rs. 50,000/- which the Company may be asking you to purchase and stock. If your uncle is keen to promote the Company's business, he should buy out the first sample machine by payment of the remaining installments in one go, and continue business relations with the Company on an ongoing basis.
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