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Current as of January 01, 2025 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Connecticut General Statutes Title 42. Business, Selling, Trading and Collection Practices § 42-392. Time of consummation. Expiration. Termination - last updated January 01, 2025 | https://codes.findlaw.com/ct/title-42-business-selling-trading-and-collection-practices/ct-gen-st-sect-42-392/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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