Carroll v Credit Services Investments Limited - [1972] NZLR 460

Hire Purchase — Nature of transaction — Contract of lease of motor car — Monthly payments — Residual value fixed — On termination car to be sold — Lessee to receive or pay difference between sale price and residual value — Whether contract hire purchase agreement — Effect or purpose of contract — Test of ordinary business dealing — Circumvention of regulations — Hire Purchase and Credit Sales Stabilisation Regulations 1957 (Reprint SR 1967/192), Regs 8(b), 10.