P-40.1 - Consumer Protection Act

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150.4. Contracts which include a conventional option to purchase the goods leased and contracts of lease with guaranteed residual value referred to in subdivision 2 must be evidenced in writing.
Every other long-term contract of lease, if evidenced in writing, must comply with the rules governing the making of a contract prescribed in Chapter II of this Title in the same manner as if it were a contract which must be evidenced in writing.
1991, c. 24, s. 3.