50-685. Same; proscribed provisions.

50-685

Chapter 50.--UNFAIR TRADE AND CONSUMER PROTECTION
Article 6.--CONSUMER PROTECTION

      50-685.   Same; proscribed provisions.A lease-purchase agreement may not contain:

      (1)   A confession of judgment;

      (2)   a negotiable instrument;

      (3)   a security interest or any other claim of a property interest in anygoods except those goods delivered by the lessor pursuant to the lease-purchaseagreement;

      (4)   a wage assignment;

      (5)   a waiver by the consumer of claims or defenses; or

      (6)   a provision authorizing the lessor or a person acting on the lessor'sbehalf to enter upon the consumer's premises or to commit any breach of thepeace in the repossession of goods.

      History:   L. 1991, ch. 71, § 6; July 1.