P.R. Laws tit. 10, § 2422
If the lessee fails to comply with the consumer lease, the lessor may rescind the contract and recover the following sums from the lessee:
(a) In case of voluntary surrender of the leased chattel:
(1) The total amount of the rates owed under the leased contract less the financing charges not accrued at the moment of surrender, computed through the reimbursement method known as the “sum of the digits or Rule 78.”
(2) Residual value stipulated in the lease, if any.
(3) The reasonable expenses incurred to repair the leased chattel in order to ready it to be offered for sale or lease, or its market price if it is less than the cost of repair.
(4) If the chattel is seized by judicial action, in addition to that stated in clauses (1), (2) and (3) of this subsection, the lessee shall be liable for the financing charges until the moment the judgment is pronounced and shall pay the lawyer’s fees and expenses, as stipulated in the contract.
(b) The lessor shall credit the following sums to the lessee:
(1) The cash value of the leased chattel, if it is sold, free from any costs and expenses inherent to the disposal of the chattel.
(2) The present value under the new contract, if the leased chattel is re-leased by the lessor.
(c) If the lessee fully meets clauses (1), (2), and (3) of subsection (a) of this section to the lessor’s satisfaction, and he/she agrees to pay the 5% of the sum of clauses (1), (2) and (3) within a period not greater than 15 days after its surrender, said lessee may recover the chattel, in which case, the lessor shall be found to transfer the chattel’s ownership to the lessee.
History —Aug. 13, 1994, No. 76, § 24, eff. 60 days after Aug. 13, 1994.