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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 9896
Experience:  30 years of corporate, litigation and international law
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MILY, I HAVE NON CANCELABLE EQUIPMENT LEASE AGREEMENT

Customer Question

MILY
JA: Thanks. Can you give me any more details about your issue?
Customer: I HAVE NON CANCELABLE EQUIPMENT LEASE AGREEMENT FOR A MERCHANT EQUIMENT. IS THERE A WAY TO GET OUT OF IT. I LIVE IN FLORIDA. THEY OVERPRICE IT.
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Submitted: 9 months ago.
Category: Business Law
Customer: replied 9 months ago.
DO YOU NEED A COPY OF THE LEASE.
Customer: replied 9 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Review Legal Documents. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Richard - Bizlaw replied 9 months ago.

Hello, my name is ***** ***** I will try to help you. Please remember I just report or interpret the law, so the outcome may not be what you hoped for.

How long is the lease? What basis, if any, do you believe you have for avoiding the lease? How long has the lease been in place? Can you attach a copy of the lease?

Customer: replied 9 months ago.
Usually merchant company lease this machines for under 40 dollars or you can find the exact model of the machines i have for 199 total price for each. Model number verifone vx520. They are charging me $24000 for them.
Customer: replied 9 months ago.
They are actually charging me $482.50 a month instead of the 450.00 even though it says total is 450
Expert:  Richard - Bizlaw replied 9 months ago.

Are the images you attached a single lease or four different agreements? Other than the fact that you believe you can lease the equipment for less money is there any basis for challenging the validity of the lease such as the equipment not performing as represented? Is the price difference you mentioned the result of taxes on the lease payments?

Customer: replied 9 months ago.
It is the same lease. Basically the overpriced equipment 199 versus $24000. I also compare a different merchant and realized that i am overpaying monthly. On the first page it says $450 total including taxes.
Expert:  Richard - Bizlaw replied 9 months ago.

I will review it and get back to you.

Expert:  Richard - Bizlaw replied 9 months ago.

I reviewed the lease. Unfortunately I see no basis for terminating the lease. You have also misread some of the key terms of the agreement. The $450 payment is the net rental to the lessor. The lease in ¶25 specifically states that you will be responsible for all taxes such as use taxes applicable to the equipment. Also, as part of your lease payment you pay $5.95 per month as insurance to cover repairs not covered by the manufacturer's warranty.

The fact that you could have gotten the same equipment for less money or on better terms is not a basis for cancelling a contract. No court is going to improve your contract. If you fail to pay you also will be responsible for the lessor's attorney fees and other costs of collection. The only option is to see what it costs to obtain a buyout of the lease. Other than that option I see no basis on which the lease can be terminated.

I am sorry for the bad news but that is where I see you standing legally.

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