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if its not paid how is it your device? If the agreement does not surrender complete control and with regard to the subject mentioned they are not, it is not yet
by Shivetya 6y ago
if its not paid how is it your device? If the agreement does not surrender complete control and with regard to the subject mentioned they are not, it is not yet your device.
now if you complete the agreement then if becomes your device. however contracts which usually allow for remote control specify it very clearly.
- gostsamo 6y agoBecause I'm borrowing from the lender to buy from the seller. The fact that they are the same entity is not significant.
- cortesoft 6y agoSo do you think it is wrong for a bank to send a repo man to take back a car that someone hasn't paid the note on? What if they set it up as a "rent to own", where you can get to rent a phone for $x a month, and after N months you own it? Would it be ok to restrict functionality then?
- gostsamo 6y agoThe bank can repossess a collateral if the contract is broken. That's why it is collateral. However, this is a legal procedure and is not subject to their whims. If they set it as a rent, I'll just go to the guys who give me the same money, but I'll own the device. Renting it means that I have no legal recourse against unreasonable search for example. This is not a house and I don't have any rights written anywhere.
- NeutronStar 6y agoCan the bank lock your car because you missed a payment? No.