A lease-purchase agreement may not contain:

(1) A confession of judgment;

Terms Used In Hawaii Revised Statutes 481M-4

  • Lessee: means a natural person who rents personal property under a lease-purchase agreement. See Hawaii Revised Statutes 481M-1
  • Lessor: means a person who regularly provides the use of property through lease-purchase agreements and to whom lease payments are initially payable on the face of the lease-purchase agreement. See Hawaii Revised Statutes 481M-1
(2) A negotiable instrument;
(3) A security interest or any other claim of a property interest in any goods except those goods delivered by the lessor pursuant to the lease-purchase agreement;
(4) A wage assignment;
(5) A waiver by the lessee of claims or defenses; or
(6) A provision authorizing the lessor or a person acting on the lessor’s behalf to enter upon the lessee’s premises or to commit any breach of the peace in the repossession of goods.

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