Virginia Code 38.2-6405: Commercial transactions
Current as of: 2023 | Check for updates
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Subsection C of § 38.2-6401 and § 38.2-6403 do not apply to a guaranteed asset protection waiver offered in connection with a lease or retail installment sale associated with a commercial transaction.
Terms Used In Virginia Code 38.2-6405
- Commercial transaction: means a transaction entered into primarily for a purpose other than personal, family, or household purposes. See Virginia Code 38.2-6400
- 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