§ 252. Definitions. For purposes of this article: (a) The term “consumer” means an individual. (b) The term “creditor’ means a person regularly engaged in the business of making loans. (c) The term “seller” means a person who sells or agrees to sell personal property or furnishes or renders or agrees to furnish or render […]
§ 253. Consumer defenses. A creditor, who made a consumer loan the proceeds of which were primarily used in a consumer sale, shall be subject to all of the defenses of a consumer arising from such consumer sale, provided that the creditor knowingly participated in or was directly connected with such consumer sale. The creditor’s […]
§ 254. Creditor relationship. Without limiting the scope of section two hundred fifty-three, there shall be a rebuttable presumption that the creditor shall have knowingly participated in or shall have been directly connected with a consumer sale if: (a) the creditor is a person related to the seller; or (b) the seller prepared forms or […]
§ 255. The provisions of this article shall not apply to consumer sales made pursuant to article nine of the personal property law, credit card transactions, consumer sales of personal property or services which could require or entail the execution of a promissory note pursuant to section four hundred three of the personal property law, […]
