1. This Article must be liberally construed and applied to promote its underlying purposes and policies.
2. The underlying purposes and policies of this Article are to:
A. Simplify, clarify and modernize the law governing rental-purchase agreements;
B. Provide certain disclosures to consumers who enter into rental-purchase agreements and to promote consumer understanding of the terms of rental-purchase agreements;
C. Protect consumers against unfair practices by some rental-purchase dealers, having due regard for the interests of legitimate and scrupulous rental-purchase dealers; and
D. Permit and encourage the development of fair and economically sound rental-purchase practices.