Purchasing Truck..running under my friends Authority

I was thinking the same thing, but slipped up and had a kind moment LOL

 

Yea, the cold, hard truth can be brutal, at times. But, this sounds like two people, that are totally uneducated in the regs, fixing to bring more black eyes to our industry by screwing up through ignorance. This is not a reality TV show, like Shipping Wars.

 

Here is the part of the Lease agreement I was referring too..... I personally lease my equipment back to my company.... Anytime you lease on to a company you are essentially surrendering your equipment to the company for its sole use.... If your name is the only name on the registration who says you are not running there company numbers Illegally????? Hope that clears up your vision a little bit... One shouldnt be so blind to the regs w/o knowledge of said regs!!!!


Possession of equipment will be transferred under the terms of this lease from LESSOR to LESSEE beginning at the date and time of execution of agreement and continue until cancellation is served by either LESSEE or LESSOR in writing. At such time as this lease agreement is terminated, LESSOR agrees to furnish LESSEE with a written receipt to show that LESSOR retakes possession of the equipment.

Sincerely Yours,
OOIDA

 

Here is another article maybe stating it in clearer terms for you......


A valid lease agreement requires three copies of the lease agreement be signed. One copy provided to the authorized carrier, one to the owner, and one kept in the vehicle identified in the lease. This is a necessary element of the agreement, permitting law enforcement officials to use the agreement in order to identify which party is the authorized carrier responsible for the operation of the vehicle. Often the driver of the vehicle (generally the owner) is unclear as to the circumstances and the consequences of leasing a vehicle to an authorized carrier.
A common misunderstanding is that the lease is a transfer of the operating authority rather than a transfer of the vehicle. This generally results in the driver playing the part of the authorized carrier and accepting responsibility for the vehicle rather than acknowledging that responsibility rests with the authorized carrier, the person actually responsible for the operation.


The lease agreement plays a significant role in law enforcement's ability to distinguish which part is responsible for the vehicle at the time of the enforcement action. Minus this agreement being available for review, law enforcement is often left making a decision between the name(s) displayed on the side of the vehicle and discussions with a driver who may or may not understand the circumstances under which the vehicle is being operated.

 

I hate to be a jerk all of the time on this forum. BUT AGAIN, HERE COMES YET ANOTHER STATISTIC FOLKS!!!!

 

thats a new one

no one's name is on my truck