§ 7704. Contents of certificate.
§ 7704. Contents of certificate. (a) The certificate of agreement to submit to ADR shall set forth: (1) The name of the person filing the certificate, (2) The address of such person (which shall include the street, number, city and state) at which it shall be given notice of any dispute, and (3) The agreement […]
§ 7705. Place of filing.
§ 7705. Place of filing. (a) The certificate accepting ADR shall be filed with the Secretary of State of the State of Delaware and shall be executed and acknowledged by the chairperson or vice-chairperson of the board of directors or by the president or vice-president of any corporation, by a general partner of any partnership, […]
§ 7706. Filing fee.
§ 7706. Filing fee. No certificate accepting ADR or revoking ADR shall be filed unless it shall be accompanied by the payment of $1,000 to the State, except that the filing fee shall be $100 for every corporation, limited partnership, statutory trust, limited liability company or other entity organized under the laws of the State. […]
§ 7607. Lessee’s reinstatement rights.
§ 7607. Lessee’s reinstatement rights. (a) A lessee who fails to make timely lease payments may reinstate the original lease-purchase agreement without losing any rights or options previously acquired under the lease-purchase agreement if both of the following apply: (1) After having failed to make a timely payment, the lessee has surrendered the property to […]
§ 7707. Revocation of ADR.
§ 7707. Revocation of ADR. A certificate accepting ADR may be revoked by the filing of a certificate stating that it revokes a previously filed certificate. A certificate of revocation shall be executed and acknowledged in the same manner as a certificate accepting ADR. A certificate of revocation shall be effective upon filing and payment […]
§ 7608. Prohibited provisions.
§ 7608. Prohibited provisions. A lease-purchase agreement may not contain a provision: (1) Requiring a confession of judgment; (2) Authorizing a lessor or an agent of the lessor to commit a breach of the peace in the repossession of property; (3) Waiving a defense, counterclaim or right the lessor may have against the lessor or […]
§ 7708. Qualifications of ADR Specialist.
§ 7708. Qualifications of ADR Specialist. The ADR proceedings shall be conducted by any individual meeting one of the following criteria: (a) Successful completion of 25 hours of training in resolving civil disputes in a course approved by the department or division of the government authority charged with responsibility over adult education in the jurisdiction […]
§ 7609. Early purchase option.
§ 7609. Early purchase option. A lease purchase agreement must provide that at any time after the initial rental payment, the lessee may acquire ownership of the property by tendering 55 percent of the difference between the total of rental payments necessary to acquire ownership of the property and the total amount of rent paid […]
§ 7709. Selection of ADR Specialist.
§ 7709. Selection of ADR Specialist. (a) In the case of ADR proceedings that are to be held in the State, the party who initiates the proceedings shall select a panel of 3 ADR Specialists in Delaware to be considered by the parties. Unless the parties otherwise agree in writing, the ADR Specialist shall thereafter […]
§ 7610. Exempted transaction.
§ 7610. Exempted transaction. This chapter does not apply to agreements for the rental of property in which the person who rents the property has no legal right to become the owner of the rented property. 68 Del. Laws, c. 59, § 1;