A holder is not liable to any person, and a holder’s rights under a lease are not affected, because of any act or omission arising out of the holder’s reasonable belief that a transaction is not a consumer lease if the holder’s belief is based on its reasonable reliance on a lessee’s representation in a record concerning the purpose for which the leased goods were to be used.

Terms Used In Connecticut General Statutes 42-425

  • 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