Hire Purchase Law and Commercial Transactions in Rivers State

• Post by: birpo
• September 15, 2026
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Chima, Chima Chukwu¹, J. C. Odoh Ph.D. ² &  Mbah, Paulinus Chigozie,  Ph.D.³

Abstract         

This study evaluated the effect of Hire Purchase Law on commercial transactions in Rivers State, Nigeria. Specifically, the study sought to examine the relationship between hire purchase legal provisions and consumer protection, and assess the relationship between the regulatory framework of hire purchase law and dispute resolution efficiency in hire purchase transactions in Rivers State. The study adopted a descriptive survey research design. The population of the study comprised 970 staff, from which a sample size of 256 respondents was determined using the Freund and Williams statistical formula. Data were collected primarily through the administration of structured questionnaires. A total of 269 questionnaires were returned and correctly completed for analysis. The data collected were presented and analysed using descriptive statistics, while the hypotheses were tested using the Z-test. The findings revealed that hire purchase legal provisions had a significant positive relationship with consumer protection in hire purchase transactions in Rivers State (Z = 9.232, p < 0.05). Similarly, the regulatory framework of hire purchase law had a significant positive relationship with dispute resolution efficiency in hire purchase transactions in Rivers State (Z = 9.544, p < 0.05). The study concluded that hire purchase legal provisions and the regulatory framework of hire purchase law significantly enhance consumer protection and dispute resolution efficiency in hire purchase transactions in Rivers State. The study therefore recommended, among others, that government and relevant regulatory agencies should strengthen the enforcement of hire purchase legal provisions and increase public awareness to enable consumers to understand their rights and obligations in hire purchase transactions.

Keywords: Hire Purchase Law, Commercial Transactions, Consumer Protection, Regulatory Framework, Dispute Resolution

Cite: Chima, C. C., Odoh, J. C. & Mbah, P. C. (2026). Hire Purchase Law and Commercial Transactions in Rivers State. International Journal of Contemporary Marketing and Management,4 (3), 18-32. https://doi.org/10.5281/zenodo.22767745