California Civil Code

§ 1812.627

CIV § 1812.627 Effective Jan 1, 1995Div. 3 · Title 2.96 · Part 4

Statute text

(a)The consumer’s liability for loss or damage to the property which is the subject of the rental-purchase agreement shall in no event exceed the lesser of (1) the fair market value at the time of the loss or damage or (2) the amount that would be necessary for the renter to exercise the purchase option provided in subdivision (a) of Section 1812.632.

(b)A lessor and a consumer may agree that the consumer may be liable for loss only up to the maximum amount described in subdivision (a) and only for one of the following:

(1)Loss caused by the consumer’s negligent, reckless, or intentional acts.

…

Legislative history

Added by Stats. 1994, Ch. 1026, Sec. 1. Effective January 1, 1995.