218.0144 Prelease agreements.
188 words·~1 min read·
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218.0144 Prelease agreements.
(1)Every prelease agreement shall be in writing, which shall contain all of the agreements of the parties with respect to entering into a consumer lease and shall be signed by both parties.
(2)No prelease agreement shall be binding on a prospective lessee unless all of the following apply:
(a)All of the information required to be disclosed in a consumer lease under s. 429.203
(3)and
(4)is disclosed in writing to the prospective lessee before the execution of the prelease agreement by the prospective lessee.
(b)The prelease agreement contains, directly above the place for the prospective lessee’s signature, a notice in substantially the following language in bold-faced capital letters of not less than 10-point type:
NOTICE TO PROSPECTIVE LESSEE
1. THIS IS A BINDING PRELEASE AGREEMENT. BY SIGNING THIS PRELEASE AGREEMENT, YOU WILL BECOME OBLIGATED TO ENTER INTO AN AGREEMENT WITH THE PROSPECTIVE LESSOR TO LEASE THE MOTOR VEHICLE DESCRIBED IN THIS PRELEASE AGREEMENT WHEN IT IS AVAILABLE AND READY TO BE DELIVERED TO YOU, UPON LEASE TERMS DISCLOSED IN THIS PRELEASE AGREEMENT OR IN THE ATTACHED DISCLOSURE STATEMENT, IF ANY.