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(1) This chapter shall be liberally construed and applied to promote its underlying purposes and policies.
(2) The underlying purposes and policies of this chapter are to:
(a) define, simplify, and clarify the law governing consumer rental purchase agreements;
(b) provide certain disclosures to consumers who enter into consumer rental purchase agreements, and further consumer understanding of the terms of consumer rental purchase agreements;
(c) protect consumers against unfair practices;
(d) permit and encourage the development of fair and economically sound rental purchase practices; and
(e) make the law on consumer rental purchase agreements, including administrative rules, more uniform among the various consumer credit code jurisdictions.