A consumer entered into an agreement with Rent-It Corporation for the rental of a television set at a charge of $17 per week. The agreement provided that if the renter chose to rent the set for seventy-eight consecutive weeks, title will be transferred.

The consumer now contends that the agreement is really a sales agreement, not a lease, and therefore is a credit sale subject to the Truth-in-Lending Act.

Explain whether the consumer is correct.

Generally, in your opinion, to what extent should the government regulate business?