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Idaho Statutes Title 28. Commercial Transactions § 28-36-109. Renegotiations

Current as of January 01, 2024 | Updated by Findlaw Staff

A renegotiation shall occur when an existing lease-purchase agreement is replaced by a new agreement entered into by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, the following events shall not be treated as renegotiations and shall not require new disclosures:

(1) The additions or return of property in a multiple-item agreement or the substitution of the lease property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent (25%);

(2) A deferral or extension of one (1) or more periodic payments, or portions of a periodic payment;

(3) A reduction in charges in the lease or agreement; or

(4) A lease or agreement modified in a court proceeding.

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Cite this article: FindLaw.com - Idaho Statutes Title 28. Commercial Transactions § 28-36-109. Renegotiations - last updated January 01, 2024 | https://codes.findlaw.com/id/title-28-commercial-transactions/id-st-sect-28-36-109/

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