Terms Used In West Virginia Code > Chapter 46B > Article 3 - Default

• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consumer: means a natural person who acquires, or seeks to acquire, the right to possession and use of consumer goods from a dealer. See West Virginia Code 46B-1-5
• Contract: A legal written agreement that becomes binding when signed.
• Damage waiver: means the voiding or disregard by the dealer of any obligation on the part of the consumer to pay the value of the consumer goods or to make payments pursuant to a rent-to-own agreement in the event of loss or damage to the consumer goods in excess of normal wear and tear or the insurance of the value of the consumer goods or of payments pursuant to the rent-to-own agreement in the event of loss or damage to the consumer goods in excess of normal wear and tear. See West Virginia Code 46B-1-5
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Fraud: Intentional deception resulting in injury to another.
• goods: means goods intended to be used primarily for personal, family or household purposes. See West Virginia Code 46B-1-5
• Judgment: includes decrees and orders for the payment of money, or the conveyance or delivery of land or personal property, or some interest therein, or any undertaking, bond or recognizance which has the legal effect of a judgment. See West Virginia Code 2-2-10
• Ownership: means the right to enjoy, possess and use consumer goods to the exclusion of other persons, including the right to transfer legal title to such consumer goods or to otherwise control, handle or dispose of such consumer goods, whether or not indicia of such ownership is established by, or otherwise required to be evidenced by, a title-paper, letter, receipt or other document or instrument. See West Virginia Code 46B-1-5
• party: includes a natural person or an individual, an organization, partnership or corporation. See West Virginia Code 46B-1-5
• Periodic payment: means a payment required to be made by a consumer to have the right to possession and use of consumer goods during a specified time period. See West Virginia Code 46B-1-5
• Premises: means a particular physical place of business opened to the public by a dealer. See West Virginia Code 46B-1-5
• Rent-to-own agreement: means a rental agreement which:

  (i) Transfers the right to possession and use of the rental property from the dealer to the consumer. See West Virginia Code 46B-1-5

• Rental agreement: means the bargain, with respect to the rental of consumer goods under a rent-to-own agreement, of the dealer and the consumer as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this chapter. See West Virginia Code 46B-1-5
• Rental contract: means the total legal obligation that results from the rental agreement as affected by this chapter and any other applicable rules of law. See West Virginia Code 46B-1-5
• rental period: means a week, a month or another specific length of time set forth in a rent-to-own agreement, during which such period the consumer has a right to continue possessing and using consumer goods, after having made the periodic rental payment for such period. See West Virginia Code 46B-1-5
• Termination: means the cancellation of a rental agreement when the consumer determines that he or she no longer desires to pay periodic payments and retain the right to possession and use of the consumer goods or either party puts an end to the rental agreement for default by the other party in accordance with the provisions of this chapter. See West Virginia Code 46B-1-5
• Total of payments: means the total of all periodic payments specified in the written agreement which the consumer must pay in order to acquire ownership of the consumer goods without the payment of additional consideration to the dealer. See West Virginia Code 46B-1-5
• Written agreement: means a written document containing or evidencing the terms of a rent-to-own transaction, reduced to a tangible and legible form by printing, typewriting, computer print-out or any other intentional reduction. See West Virginia Code 46B-1-5