2981.5. A contract for the bailment or leasing of a motor vehicle, with or without accessories, which establishes the maximum for which a bailee or lessee could be held liable at the end of the lease or bailment period, or upon an earlier termination, by reference to the value of the vehicle at such time, is not a contract by which the bailee or lessee will become or for no other or for a nominal consideration has the option of becoming the owner of the vehicle, for the purposes of paragraph (2) of subdivision (a) of Section 2981 or any other provision of this chapter.
(Added by Stats. 1973, Ch. 696.)Section: Previous 2981 2981.5 2981.7 2981.8 2981.9 2982 2982.1 2982.2 2982.3 2982.5 2982.7 2982.8 2982.9 2982.10.a 2982.11 Next
Last modified: September 9, 2016