A rental-purchase agreement may not contain a provision:

(1) Requiring a confession of judgment;
contract signature

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Terms Used In Tennessee Code 47-18-606

  • Consumer: means a natural person who rents personal property under a rental-purchase agreement. See Tennessee Code 47-18-603
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • 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
  • Lessor: means a person who, in the ordinary course of business, regularly leases, offers to lease, or arranges for the leasing of property under a rental-purchase agreement. See Tennessee Code 47-18-603
  • Person: means a natural person, consumer, individual, governmental agency, partnership, corporation, trust, estate, incorporated or unincorporated association, and any other legal or commercial entity however organized. See Tennessee Code 47-18-2102
  • 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 (4) months or less (whether or not there is any obligation beyond the initial period) that is automatically renewable with each payment and that permits the consumer to become the owner of the property. See Tennessee Code 47-18-603
(2) Requiring a garnishment of wages;
(3) Granting authorization to the lessor or a person acting on the lessor’s behalf to enter unlawfully upon the consumer‘s premises or to commit any breach of the peace in the repossession of goods;
(4) Requiring the consumer to waive any defense, counterclaim, or right of action against the lessor or a person acting on the lessor’s behalf in collection of payment under the lease or in the repossession of goods; or
(5) Requiring purchase of insurance from the lessor to cover the merchandise.
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