Inapplicability of other laws; exempted transactions.

§ 7602. Inapplicability of other laws; exempted transactions. (a) Lease-purchase agreements which comply with this chapter are not governed by the laws relating to: (1) A “retail installment contract” or “contract” as defined in § 4301(9) of this title. (2) A “security interest” as defined in § 1-201(35) of this title. (b) This chapter does not apply to the following: (1) Lease-purchase agreements primarily for business, commercial or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations; (2) A lease of safe deposit box; (3) A lease or bailment of personal property along with the lease of real property; (4) A lease of an automobile; or (5) The lease of real property and/or the fixed improvements thereon.68 Del. Laws, c. 59, § 1;