This guide sets out the most important laws applicable to a lease and provides explanations of the rights and remedies you have against a merchant if things go wrong. Lease purchase agreements (for which you have the option to purchase the goods) are not covered in this guide. Entrepreneurs generally fall into two broad categories: individual entrepreneurs and businesses. But the Consumer Lease Act treats an individual entrepreneur as a “consumer” when the amount due is less than £25,000; these include individuals, partnerships of 2 or 3 people, and unregistered associations of individuals (such as some clubs). If, under the lease, the contractor owes a total of more than £25,000 and terminates the lease for commercial purposes, the contract is an “exempt” contract (which, however, remains largely regulated, as explained below). (c) anything else that is done (or not) at any time by or on behalf of the rental company. Exempt leases must contain a declaration of commercial purpose, but the mere inclusion of the text does not meet the requirements if the declaration is not true or if the amount due is less than £25,000. The regulated activity of “credit intermediation” also covers exempt leases and falls under the provisions of the CSF on “unfair relations”. If there are no specific safety rules for certain leased products, the general product safety rules apply in 2005. These rules require manufacturers and retailers to only provide new and used products that are safe for you if used normally or reasonably foreseeable. If you sign a rental agreement because a trader has misled you or because a trader has applied an aggressive trading practice, the Consumer Protection from Unfair Trading Regulations 2008 also gives you the right to compensation: the right to enter into the contract, the right to a discount and the right to damages…