Supply of Goods and Services Act 1982: Primary legislation governing quality and fitness for purpose of leased equipment. Implies terms about performance standards and merchantable quality in lease agreements.
Consumer Rights Act 2015: Provides statutory rights and remedies for consumers in lease agreements. Applies when leasing to consumers and sets requirements for transparency and fairness in contracts.
Unfair Contract Terms Act 1977: Regulates exclusion clauses and sets limits on liability limitations in lease agreements. Essential for ensuring fairness in contract terms.
Consumer Credit Act 1974: Regulates credit agreements and may apply if the lease arrangement constitutes a credit agreement. Important for financial aspects of lease-purchase arrangements.
Sale of Goods Act 1979: Governs the eventual sale portion of the agreement, particularly relevant for the purchase option. Implies terms about title and quality of goods.
Financial Services and Markets Act 2000: May be applicable if the lease arrangement constitutes a regulated financial product. Ensures compliance with financial services regulations.
Fraud Act 2006: Relevant for representations about equipment condition and specifications. Protects against fraudulent misrepresentation in lease agreements.
Contracts (Rights of Third Parties) Act 1999: Important legislation when third parties might have rights under the lease agreement. Determines third-party enforcement rights.
Late Payment of Commercial Debts (Interest) Act 1998: Governs payment terms and consequences of default in commercial lease agreements. Sets statutory interest rates for late payments.
Misrepresentation Act 1967: Covers false statements about equipment condition or performance. Provides remedies for misrepresentation in lease agreements.
