MHHS · Consumer Protection Act
Part 9 — Cost of Credit Disclosure Division 1 Interpretation and Application
90 Division 5 Leases of Goods Definitions
(a) "estimated residual value" means the lessor's reasonable
estimate of the wholesale value of the leased goods at the
end of the lease term;
(b) "residual obligation lease" means a lease under which the
lessee may be required at the end of the lease term to pay
the lessor an amount based wholly or partly on the
difference, if any, between the estimated residual value and
the realizable value of the leased goods;
RSA 2000
(c) "term", in relation to the duration of a lease, means the
period during which the lessee is entitled to retain
possession of the leased goods.
1998 cF-1.05 s90