Rented something and they put "Obligation to Buy" in the contract.

[Trush Jodie]

I wanted to rent an industrial hair dryer for six months. And the person renting to me gave me a rental contract. The contract included a clause that said "Obligation to Buy" at a given price after the rental period.

Does it mean I must buy the product whether I like it or not?

 

[Springtime]

If the contract has such a clause that said "Obligation to Buy" after the rental period, I will think that I need to buy the product after the rental period.

 

[eLdavis]

I think it means if the product is still with you after the agreed period of time you plan on renting it, then you are obligated to buy it.

 

[King Belieal]

You don't have an alternative but to buy the product. That is a very sensitive clause that might not favor an average person.

 

[Laurentta]

I believe that of the 6 months renting period has passed and the product is still with you, then you would have to buy the product.

 

[Augusta]

This is a purchase commitment or a contractual agreement in which the buyer undertakes to purchase a specified minimum quantity of goods or services within a defined period of time.

 

[Kera]

And with Obligation to Buy in contracts, there is always a price tag that you must buy the product.