An agreement which conforms with the definition as set forth in § 4-92-102(7) shall be a true lease and shall not constitute a credit sale, retail installment contract, agreement, obligation, or any other type of credit sale financing device, nor shall it create a security interest as that term is defined in § 4-1-201(b)(35). Until the lessor transfers title to the merchandise to the consumer, the relationship of the parties to a rental-purchase agreement shall be that of a lessor and lessee and not that of a seller and buyer, and title to the merchandise shall remain vested with the lessor.
History.
Acts 1987, No. 490, § 3.
Case Notes
True Lease.
The agreements between the debtor and its creditor complied, in every respect, with the provisions of § 4-92-105 and therefore, the agreements were determined to be leases. In re Taylor, 130 B.R. 849 (Bankr. E.D. Ark. 1991).
Notes of Decisions
Cited in 2
cases, 1991–2001 · leading case: In Re Taylor, 130 B.R. 849 (Bankr. E.D. Ark. 1991).
In Re Taylor, 130 B.R. 849 (Bankr. E.D. Ark. 1991). · cites it 2דArk.Code Ann. § 4-92-104, referring to the definition cited above, states: An agreement which conforms with the definition as, set forth in § 4-92-102(7) shall be a true lease and shall not constitute a credit sale, retail installment contract, agreement, obligation, or any…”
In Re Minton, 271 B.R. 335 (Bankr. W.D. Ark. 2001). · cites it 2דSpecifically, Arkansas Code Annotated § 4-92-104 states that: An agreement which conforms with the definition as set forth in § 4-102(7) shall be a true lease and shall not constitute a credit sale, retail installment contract, agreement, obligation, or any other type of credit…”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.