(1) This article shall be liberally construed and applied to promote its underlying purposes and policies.
(2) The underlying purposes and policies of this article are to:
(a) Simplify, clarify, and modernize the law governing rental purchase agreements;
(b) Provide certain disclosures to consumers who enter into rental purchase agreements and to promote consumer understanding of the terms of rental purchase agreements;
(c) To protect consumers against unfair practices by some rental purchase dealers, having due regard for the interest of legitimate and scrupulous rental dealers; and
(d) To permit and encourage the development of fair and economically sound rental purchase practices.
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