what was hire and purchase system in usa
Hire purchase A hire purchase (HP)[1] or known as installment plan in the United States is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g. 40% of the total) and repays the balance of the price of the asset plus interest over a period of time. Other analogous practices are described as closed-end leasing or rent to own.
OfficeMax OfficeMax was an American office supplies retailer founded in 1988. It is now a subsidiary of Office Depot, Inc., which is headquartered in Boca Raton, Florida.[1] As of December 2012, OfficeMax operated 941 stores in 47 states, Puerto Rico, the U.S. Virgin Islands and Mexico. In 2012, net sales were $6.9 billion, down from $8.3 billion in 2008.[2]