Rent-to-own: Providing Opportunities Or Gouging Consumers? : Hearing Before the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, First Session, March 31, 1993, Volume 4U.S. Government Printing Office, 1993 - 755 pages |
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Common terms and phrases
Accts annual percentage rate appliances APRO asset-based lending attorney bailee or lessee bailment buyer cash price Center Ch Bd Pr Chairman Colortyme Colortyme's Consumer Credit Consumer Leasing contract CORP cost court credit sales customers disclosure Dublin Employees Ex VP Federal Federal Trade Commission finance charges finance companies furniture Installment Sales Installment Sales Act inventory legislation merchandise MULDROW Nat Bk Officer(s operation option Pacific Nat payments percent Plaintiff Pr Tr Sec purchase RAMP regulation REMAX rent Rent-A-Center Longitudinal Study rent-to rent-to-own industry rent-to-own stores rent-to-own transactions rental agreement repossession Retail Installment Sales RTO companies RTO industry RTO transactions Sales 3MM says seller SIC(s Stat statute Suby suggested retail price sumer SVCS television term terminate THORN EMI Tr Sec VP VP DUNS VP VP warranty weeks Wisconsin
Popular passages
Page 260 - capital assets' means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close .of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 417 - Security interest" means an interest in personal property or fixtures which secures payment or performance of an obligation. The retention or reservation of title by a seller of goods notwithstanding shipment or delivery to the buyer (Section 2-401) is limited in effect to a reservation of a "security interest".
Page 417 - Whether a lease is intended as security is to be determined by the facts of each case; however, (a) the inclusion of an option to purchase does not of itself make the lease one intended for security, and (b) an agreement that upon compliance with the terms of the lease the lessee shall become or has the option to become the owner of the property for no additional consideration or for a nominal...
Page 409 - ... and a contract for the bailment or leasing of goods by which the bailee or lessee contracts to pay as compensation for their use a sum substantially equivalent to or in excess of their value and by which it is agreed that the bailee or lessee will become, or for no other or for a nominal consideration has the option of becoming, the owner of the goods upon full compliance with the terms of the contract.
Page 412 - The term credit sale" refers to any sale with respect to which credit is extended or arranged by the seller. The term includes any contract in the form of a bailment or lease if the bailee or lessee contracts to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the property and services involved and it is agreed that the bailee or lessee will become, or for no other or a nominal consideration has the option to become, the owner of the property upon...
Page 412 - ... and by which it is agreed that the bailee or lessee is bound to become, or has the option of becoming the owner of such goods upon full compliance with the terms of the contract. "Buyer...
Page 423 - Unless a lease or consignment is intended as security, reservation of title thereunder is not a "security interest" but a consignment is in any event subject to the provisions on consignment sales (section 2—326).
Page 140 - The views expressed in this statement represent the views of the Commission. My oral presentation and responses to questions are my own and do not necessarily represent the views of the Commission or any Commissioner.
Page 408 - ... under which part or all of the price is payable subsequent to the making of such sale or contract; any rental-purchase contract, or any contract for the bailment or leasing of...
Page 422 - ... security interest". The term also includes any interest of a buyer of accounts, chattel paper, or contract rights which is subject to Article 9.