Terms Used In California Codes > Civil Code > Division 3 > Part 4 > Title 2.96 - CALIFORNIA RENTAL-PURCHASE ACT

• Advertisement: means a commercial message in any medium that directly or indirectly solicits or promotes one or more specific rental-purchase transactions, excluding instore merchandising aids. See California Civil Code 1812.622
• Affected county: means each county which is proposed to be part of a consolidated county or which is consolidated with one or more counties. See California Government Code 23501
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Cash price: means the price of the personal property described in the rental-purchase agreement that the consumer may pay in cash to the lessor at the inception of the rental-purchase agreement to acquire ownership of that personal property. See California Civil Code 1812.622
• City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
• Clerk: means the clerk of the county board of supervisors. See California Government Code 23501
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Computer system: means a computer processor and a video monitor, printer, and peripheral items primarily designed for use with a computer. See California Civil Code 1812.622
• Consumer: means a natural person or persons who rent or lease personal property from a lessor pursuant to a rental-purchase agreement or to whom a lessor offers personal property for use pursuant to a rental-purchase agreement. See California Civil Code 1812.622
• Cost of rental: means the difference between the total of all periodic payments necessary to acquire ownership under the rental-purchase agreement and the cash price of the rental property that is subject to the rental-purchase agreement. See California Civil Code 1812.622
• Counterclaim: A claim that a defendant makes against a plaintiff.
• County: includes city and county. See California Government Code 19
• County: includes "city and county. See California Public Resources Code 14
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Electronic device: means a desktop or laptop computer, handheld device, tablet, smartphone, or other electronic product or device that has a platform on which to download, install, or run any software program, code, script, or other content. See California Civil Code 1812.622
• eligible bank: means a state or national bank located in this state, selected by the Treasurer for the safekeeping of money belonging to or in the custody of the state, that has received an overall rating of not less than "satisfactory" in its most recent evaluation by the appropriate federal financial supervisory agency of the bank's record of meeting the credit needs of the state's communities, including low- and moderate-income neighborhoods, pursuant to Section 2906 of Title 12 of the United States Code. See California Government Code 16500
• Equal Credit Opportunity Act: Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives income from a public assistance program. ^{Source: OCC}
• Express consent: means the affirmative agreement to any use or installation of geophysical location tracking technology or remote technical assistance. See California Civil Code 1812.622
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fee: means any payment, charge, fee, cost, or expense, however denominated, other than a rental payment. See California Civil Code 1812.622
• Geophysical location tracking technology: means hardware, software, or an application that collects and reports data or information that identifies the precise geophysical location of an item, including technologies that report the GPS coordinates of an electronic device, the WiFi signals available to or actually used by an electronic device to access the Internet, the telecommunication towers or connections available to or actually used by an electronic device, the processing of any reported data or information through geolocation lookup services, or any information derived from any combination of the foregoing. See California Civil Code 1812.622
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lessor: means any person or entity that provides or offers to provide personal property for use by consumers pursuant to a rental-purchase agreement. See California Civil Code 1812.622
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Monitoring technology: means any hardware, software, or application utilized in conjunction with an electronic device that can cause the electronic device to capture, monitor, record, or report information about user activities with or without the user's knowledge. See California Civil Code 1812.622
• month: means a calendar month, unless otherwise expressed. See California Civil Code 14
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Person: includes any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Government Code 17
• personal property: include money, goods, chattels, things in action, and evidences of debt. See California Civil Code 14
• Personal property: All property that is not real property.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Principal county: means the county with the greatest proportion of assessed value, as shown on the last equalized assessment roll, to the total amount of taxable property in the county. See California Government Code 23501
• property: includes property real and personal. See California Civil Code 14
• qualified trust company: means the trust department of any State or National bank in this State or a trust company authorized to act as such in this State. See California Government Code 16550
• Remote technical assistance: means collaborative access by the user and technician to connect to an electronic device for the purpose of providing technical support to the user. See California Civil Code 1812.622
• Rental-purchase agreement: except as otherwise provided in this subdivision, means an agreement between a lessor and a consumer pursuant to which the lessor rents or leases, for valuable consideration, personal property for use by a consumer for personal, family, or household purposes for an initial term not exceeding four months that may be renewed or otherwise extended, if under the terms of the agreement the consumer acquires an option or other legally enforceable right to become owner of the property. See California Civil Code 1812.622
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
• Subdivision: means a subdivision of the section in which the term occurs unless some other section is expressly mentioned. See California Government Code 10
• Total of payments: means the total amount of periodic payments necessary to acquire ownership of the property that is the subject of the rental-purchase agreement if the consumer makes all regularly scheduled payments. See California Civil Code 1812.622
• Town: includes "unincorporated town" and "village. See California Government Code 21
• Trustee: A person or institution holding and administering property in trust.
• will: includes codicil. See California Civil Code 14