UC Law School statement: The Law School has received many media requests about Barack Obama, especially about his status as Senior Lecturer.. From 1992 until his election to the U.S. Senate in 2004, Barack Obama served as a professor in the Law School. He was a Lecturer from 1992 to 1996.
DEFINITION of 'Hire Purchase'. A method of buying goods through making installment payments over time. The term hire purchase originated in the U.K., and is similar to what are called rent-to-own arrangements in the United States.Under a hire purchase contract, the buyer is leasing the goods and does not obtain ownership until the full amount of the contract is paid. Next Up.he term hire purchase originated in the U.K., and is similar to what are called rent-to-own arrangements in the United States. Under a hire purchase contract, the buyer is leasing the goods and does not obtain ownership until the full amount of the contract is paid. Next Up.
The main reason you might choose a hire purchase agreement is convenience, as the garage selling you a new car may also arrange your finance. So, it saves you having to visit your bank, building society or credit union to arrange a personal loan.ou must be given a copy of the hire-purchase agreement, in writing, within 10 days of the agreement being made. The words âHire-purchase agreementâ must be clearly written on the document, and the agreement itself must include the following information: 1  A description of the car the agreement refers to.