15 Consumer hire agreements.U.K.
(1)A consumer hire agreement is an agreement made by a person with an individual (the “hirer ”) for the bailment or (in Scotland) the hiring of goods to the hirer, being an agreement which—
(a)is not a hire-purchase agreement, and
(b)is capable of subsisting for more than three months, and
(c)does not require the hirer to make payments exceeding [F1£15,000].
(2)A consumer hire agreement is a regulated agreement if it is not an exempt agreement.
Textual Amendments
F1"£15,000" substituted by S.I. 1983/1878, art. 4, Sch. Pt. II