Idaho Code 28-36-103 – Inapplicability of Other Laws — Exempted Transactions
Current as of: 2023 | Check for updates
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(1) Lease-purchase agreements are not governed by the laws relating to:
(a) A home solicitation sale as defined in section 28-43-401, et seq., Idaho Code;
(b) A regulated consumer credit transaction pursuant to section 28-41-101, et seq., Idaho Code; or
(c) A security interest as defined in section 28-1-201, Idaho Code.
(2) This chapter does not apply to the following:
(a) Leases of personal property primarily for business, commercial or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;
(b) A lease of a safe deposit box;
(c) A lease or bailment of personal property which is incidental to the lease of real property, and which provides that the consumer has no option to purchase the leased property; or
(d) A lease of an automobile.
Terms Used In Idaho Code 28-36-103
- Consumer: means a natural person who rents personal property under a lease-purchase agreement to be used by the consumer primarily for personal, family or household purposes. See Idaho Code 28-36-102
- 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
- Personal property: includes money, goods, chattels, things in action, evidences of debt and general intangibles as defined in the uniform commercial code — secured transactions. See Idaho Code 73-114
- Personal property: All property that is not real property.
- Property: includes both real and personal property. See Idaho Code 73-114
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.