Supply of Goods and Services Act 1982: Key legislation governing quality and fitness for purpose of goods supplied, and implies terms about performance of services in lease purchase agreements
Consumer Credit Act 1974: Regulates credit agreements and provides consumer protections when the lessee is a consumer. Essential for consumer lease purchase arrangements
Unfair Contract Terms Act 1977: Controls exclusion and limitation clauses in contracts and determines the reasonableness of contract terms in lease purchase agreements
Sale of Goods Act 1979: Relevant for purchase option aspects of the agreement, implying terms about title, quality, and fitness for purpose of the equipment
Consumer Rights Act 2015: Consolidates consumer protection law and sets out rights and remedies for consumer lease purchase agreements
Finance Act: Covers tax implications and VAT considerations for lease purchase arrangements
Financial Services and Markets Act 2000: Applicable if the lease purchase agreement involves regulated financial activities
Contracts (Rights of Third Parties) Act 1999: Governs assignment and third-party rights in lease purchase agreements
Misrepresentation Act 1967: Protects against false statements that induce contract formation in lease purchase arrangements
Late Payment of Commercial Debts (Interest) Act 1998: Governs payment terms and default interest in commercial lease purchase agreements
