Odometer Replacement:
Repairing or substituting an odometer. The repaired or substituted device must include the previous distance traveled. Repairs or substitutions must be disclosed. Disclosure may be on a sales order, purchase agreement, or repair record.
Odometer Tampering:
Disconnecting, altering, or replacing an odometer. Such actions are against the criminal law.
Odometer:
A device used for indicating distance traveled by a vehicle. This device may be electronic or mechanical.
Offer to Purchase:
A formal legal agreement to pay a specified price for a specified vehicle. The offer may be firm (no conditions attached) or conditional (certain conditions apply).
One Clear Day:
A legal term for time based on business days (not a 24-hour day). Business days do not include Sundays, provincial statutory holidays, and days the dealership is normally closed.
Option to Purchase:
See Lease Purchase Option.
Owner’s Certificate of Insurance and Vehicle Registration:
The top portion of an insurance document. This document is given to a buyer by an insurance broker when registering, licensing, and insuring the vehicle. The top portion must carried in the vehicle as proof that the vehicle is licensed and insured.
