Sec. 42-394. Characterization of lease. Applicability by agreement.
123 words·~1 min read·
/ct/title-42/chapter-743aa-consumer-leases/42-394·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A consumer lease may not be deemed a credit sale, loan or security interest to make the transaction subject to coverage by other law in lieu of sections 42-270 to 42-271a , inclusive, and 42-390 to 42-434 , inclusive.
(b)The parties to a lease that is not subject to sections 42-270 to 42-271a , inclusive, and 42-390 to 42-434 , inclusive, may agree in the lease, or in a contemporaneous record, that sections 42-270 to 42-271a , inclusive, and 42-390 to 42-434 , inclusive, apply to the lease.
(c)The parties to a consumer lease may not agree that the transaction is governed by other law in lieu of sections 42-270 to 42-271a , inclusive, and 42-390 to 42-434 , inclusive.