South Carolina § 37-2-714 Lessee's right to reinstatement of rental-purchase agreement.

South Carolina Statutes

§ 37-2-714 — Lessee's right to reinstatement of rental-purchase agreement.

South Carolina § 37-2-714

Title 37CONSUMER PROTECTION CODE

Ch. 2CREDIT SALES

This text of South Carolina § 37-2-714 (Lessee's right to reinstatement of rental-purchase agreement.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 37-2-714 (2026).

Text

(1)A lessee who fails to make timely periodic payment or payments has the right to reinstate the original consumer rental-purchase agreement without losing any rights or options previously acquired under the consumer rental-purchase agreement if both of the following apply:

(a)The consumer rental-purchase agreement is not more than sixty days in default.

(b)One periodic payment has been missed and the lessee has surrendered the item to the lessor, if requested by the lessor, during the time in which payments were missed.

(2)As a condition precedent to reinstatement of the consumer rental-purchase agreement, a lessor may charge the outstanding balance of any accrued payments and delinquency charges plus delivery charges allowable by Section 37-2-706(2) if redelivery of the item is neces

Free access — add to your briefcase to read the full text and ask questions with AI

(1) A lessee who fails to make timely periodic payment or payments has the right to reinstate the original consumer rental-purchase agreement without losing any rights or options previously acquired under the consumer rental-purchase agreement if both of the following apply: (a) The consumer rental-purchase agreement is not more than sixty days in default. (b) One periodic payment has been missed and the lessee has surrendered the item to the lessor, if requested by the lessor, during the time in which payments were missed. (2) As a condition precedent to reinstatement of the consumer rental-purchase agreement, a lessor may charge the outstanding balance of any accrued payments and delinquency charges plus delivery charges allowable by Section 37-2-706(2) if redelivery of the item is necessary. (3) If reinstatement occurs pursuant to this section, the lessor shall provide the lessee with either the same item leased by the lessee prior to reinstatement or a substitute item of comparable quality and condition. If a substitute item is provided the lessor shall provide the lessee with all the information required by Section 37-2-702.