Section 1351.03 | Provisions prohibited in lease-purchase agreement.
(A) A lease-purchase agreement shall not contain a provision that requires a lessee to do any of the following:
(1) Execute a warrant of attorney to confess judgment;
(2) Authorize the lessor or an agent of the lessor to commit a breach of the peace in the repossession of property that is the subject of the lease-purchase agreement;
(3) Waive a defense, counterclaim, or any right the lessee has against the lessor or an agent of the lessor.
(B) No lease-purchase agreement shall provide that mere failure to return property constitutes probable cause for a criminal action.
Available Versions of this Section
- June 29, 1988 – House Bill 421, 117th General Assembly [ View June 29, 1988 Version ]