Connecticut § 42-392 Time of consummation. Expiration. Termination.

Connecticut Statutes

§ 42-392 — Time of consummation. Expiration. Termination.

Connecticut·Title 42 Business, Selling, Trading and Collection Practices·Ch. 743aa Consumer Leases

(a)Consummation of a consumer lease occurs when the lessee signs a record evidencing the lessee's contractual obligation under the lease. A lessee may consummate a consumer lease even if it is subject to subsequent credit or other approval by the lessor or an assignee of the lessor.

(b)Expiration of a consumer lease occurs at the scheduled end of the period covered by the lease.

(c)Termination of a consumer lease occurs when the lessee's right to continued possession and use of the goods ends by virtue of:

(1)Expiration of the lease;

(2)Election by one of the parties to terminate before expiration, as provided in the lease; or (3) Agreement of the parties.

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(a) Consummation of a consumer lease occurs when the lessee signs a record evidencing the lessee's contractual obligation under the lease. A lessee may consummate a consumer lease even if it is subject to subsequent credit or other approval by the lessor or an assignee of the lessor. (b) Expiration of a consumer lease occurs at the scheduled end of the period covered by the lease. (c) Termination of a consumer lease occurs when the lessee's right to continued possession and use of the goods ends by virtue of: (1) Expiration of the lease; (2) Election by one of the parties to terminate before expiration, as provided in the lease; or (3) Agreement of the parties.

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