Comment on the following statements: Registration and payment of stamp duty on a deed of hire-purchase is compulsory.

There is no Article governing hire purchase agreement in Schedule I to the Indian Stamp Act. Such an agreement would, therefore, fall under the general Article 5 regarding agreements in general. A deed of hire-purchase is liable to stamp duty as an agreement under Article 5 of the Indian Stamp Act, 1899. A hire purchase agreement or a hire agreement does not require registration under the Registration Act, 1908 as it relates to movable property.