Alabama Code 8-37-7. Lease or retail installments sales
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Terms Used In Alabama Code 8-37-7
- 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
Subsection (c) of Section 8-37-3 and Sections 8-37-5 and 8-37-8 of this chapter are not applicable to a GAP waiver offered in connection with a lease or retail installment sale associated with a commercial transaction.