Section 28-36-102 – DEFINITIONS.
28-36-102. DEFINITIONS. As used in this chapter: (1) "Advertisement" means a commercial message in any medium that promotes, directly or indirectly, a lease-purchase agreement. (2) "Consumer" means a natural person who rents personal property under a lease-purchase agreement to be used by the consumer primarily for personal, family or household purposes. (3) "Consummation" means the […]
Section 28-36-103 – INAPPLICABILITY OF OTHER LAWS — EXEMPTED TRANSACTIONS.
28-36-103. INAPPLICABILITY OF OTHER LAWS — EXEMPTED TRANSACTIONS. (1) Lease-purchase agreements are not governed by the laws relating to: (a) A home solicitation sale as defined in section 28-43-401, et seq., Idaho Code; (b) A regulated consumer credit transaction pursuant to section 28-41-101, et seq., Idaho Code; or (c) A security interest as defined in […]
Section 28-36-104 – GENERAL REQUIREMENTS OF DISCLOSURE.
28-36-104. GENERAL REQUIREMENTS OF DISCLOSURE. (1) The lessor shall disclose, or cause to be disclosed, to the consumer the information required in this chapter. In a transaction involving more than one (1) lessor, only one (1) lessor need make the disclosures, but all lessors shall be bound by such disclosures. (2) The disclosures shall be […]
Section 28-36-105 – DISCLOSURES.
28-36-105. DISCLOSURES. (1) For each lease-purchase agreement, the lessor shall disclose in the agreement the following items, as applicable: (a) The total number, total dollar amount and frequency of all payments necessary to acquire ownership of the property; (b) A statement that the consumer will not own the property until the consumer has made the […]
Section 28-36-106 – PROHIBITED PRACTICES.
28-36-106. PROHIBITED PRACTICES. A lease-purchase agreement may not contain: (1) A confession of judgment; (2) A negotiable instrument; (3) A claim of a property interest in any goods except those goods delivered by the lessor pursuant to the lease-purchase agreement; (4) A wage assignment; (5) A waiver by the consumer of claims or defenses; or […]
Section 28-36-107 – REINSTATEMENT.
28-36-107. REINSTATEMENT. (1) A consumer who fails to make a timely rental payment and who fails to voluntarily return or surrender the leased property on or before the renewal date, may reinstate the agreement without losing any rights or options which exist under the agreement, by the payment, within five (5) days after the renewal […]
Section 28-36-108 – RECEIPTS AND ACCOUNTS.
28-36-108. RECEIPTS AND ACCOUNTS. The lessor shall provide the consumer a written receipt for each payment made by cash or money order. History: [28-36-108, added 1993, ch. 232, sec. 1, p. 810.]
Section 28-36-109 – RENEGOTIATIONS.
28-36-109. RENEGOTIATIONS. A renegotiation shall occur when an existing lease-purchase agreement is replaced by a new agreement entered into by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, the following events shall not be treated as renegotiations and shall not require new disclosures: (1) The additions […]
Section 28-36-110 – ADVERTISING.
28-36-110. ADVERTISING. (1) If an advertisement for a lease-purchase agreement refers to or states the dollar amount of the rental payment and the right to acquire ownership for any one (1) specific item, then in respect to that item the advertisement shall also clearly and conspicuously state the following items, as applicable: (a) That the […]
Section 28-36-111 – ENFORCEMENT.
28-36-111. ENFORCEMENT. (1) A lessor whose violation of the provisions of this chapter causes damages to a consumer shall be subject to a judgment by a court of competent jurisdiction for actual damages, if the lessor can show by preponderance of the evidence that the damage was caused by a good faith dispute between the […]