Sec. 42-405. Notice to guarantor.
227 words·~1 min read·
/ct/title-42/chapter-743aa-consumer-leases/42-405·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The obligation of a guarantor with respect to a consumer lease is not enforceable unless:
(1)Before the guarantor signs a record evidencing the obligation, the lessor provides to the guarantor a clear statement in a record which identifies the obligation, the lessor and the lessee and reasonably informs the guarantor of the nature of the obligation; and
(2)The lessor provides to the guarantor a copy of the signed record evidencing the guarantor's obligation and, if the guarantor requests, a copy of the lease.
(b)A statement in substantially the following form complies with subdivision
(1)of subsection
(a)of this section:
NOTICE
Name of Guarantor: ....
You agree to pay the lease obligation identified below although you may not personally receive any goods. You may have to pay this obligation even if the person who receives the goods is able to pay. This notice is not the contract that makes you responsible for the obligation. Read the lease for the exact terms of your obligation.
Identification of Obligation You May Have to Pay: ....
Name of Lessee: ....
Name of Lessor: ....
(c)As against a holder who took the consumer lease without knowledge to the contrary, a guarantor's signed acknowledgment of receipt of the records specified in subsection
(b)of this section creates a presumption of delivery of those records to the guarantor.