(1) An assignment made pursuant to sections 16 and 17 shall be in writing and shall specify the full name and address of the assignee.
(2) A copy of the assignment shall be served by the hirer or owner within 7 days after the date of its execution by the assignor.
(3) On the absolute assignment of the hire-purchase agreement the assignee shall, unless it is otherwise agreed with the owner in writing, become personally liable to pay the installments remaining unpaid and to perform and observe all other terms of the hire-purchase agreement during the residue of the term of the hire-purchase agreement and to indemnify the hirer in respect of such liabilities.