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.
Things to remember. 1  As Hire Purchase is a hire agreement with an option to buy at the end of it, the finance company will actually own the car until you make the final payment. 2  Since you do not own the car until the end of the term, you cannot sell or modify it without the finance companyâs permission.f you wish to settle a Hire Purchase agreement â either partially or in full â before the end of the agreement, then you are entitled to make early repayments to your finance company. You should speak to your finance company for advice on how best to do this.