Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE IX > Chapter 3 - Rental-Purchase Agreements

• Advertisement: means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental-purchase agreement. See Louisiana Revised Statutes 9:3352
• Arrest: Taking physical custody of a person by lawful authority.
• Cash price: means the price at which the lessor would have sold the property to the consumer for cash on the date of the rental-purchase agreement. See Louisiana Revised Statutes 9:3352
• Consumer: means a natural person who rents personal property under a rental-purchase agreement to be used primarily for personal, family, or household purposes. See Louisiana Revised Statutes 9:3352
• Consummation: means the time when a consumer becomes contractually obligated on a rental-purchase agreement. See Louisiana Revised Statutes 9:3352
• 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.
• Fraud: Intentional deception resulting in injury to another.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Lessor: means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement. See Louisiana Revised Statutes 9:3352
• Personal property: All property that is not real property.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• professional medical corporation: means a corporation organized pursuant to this Chapter for the practice of medicine or podiatry. See Louisiana Revised Statutes 12:901
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Rental-purchase agreement: means an agreement for the use of personal property by a natural person primarily for personal, family, or household purposes for an initial period of four months or less, that is automatically renewable with each payment after the initial period, but that does not obligate or require the consumer to continue renting or using the property beyond the initial period, and that permits the consumer to become the owner of the property. See Louisiana Revised Statutes 9:3352
• Statute: A law passed by a legislature.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Verdict: The decision of a petit jury or a judge.