Lessee's right to return property, continue rental, or purchase property before end of rental-purchase agreement
Known as the South Carolina Consumer Protection Code
The act spans §§ 37–37 (347 sections).
Applied in 1 court decision — leading case In Re Barnhill (1992)
Most recently applied in In Re Barnhill (December 1992)
1985 Act No. 121, SECTION 6.
In a consumer rental-purchase agreement, at any time after the lessee has made the first periodic payment, the lessee may:
(1) return the rented property to the lessor;
(2) continue making periodic payments or renewals as provided for in the agreement for the remaining term of the agreement; or
(3) purchase the property by tendering fifty-five percent of the difference between the total of scheduled payments and the total amount paid on the account.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.