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Terms Used In Texas Business and Commerce Code 92.154

  • Contract: A legal written agreement that becomes binding when signed.

A contract that offers a loss damage waiver must include the following notice:
“This contract offers an optional loss damage waiver for an additional charge to cover your responsibility for loss of or damage to the merchandise. You do not have to purchase this coverage. Before deciding whether or not to purchase this loss damage waiver, you may consider whether your homeowners’ or casualty insurance policy affords you coverage for loss of or damage to rental merchandise and the amount of the deductible you would pay under your policy.”