§ 25A-40 – Form of agreement or offer; statement of buyer's rights.
25A-40. Form of agreement or offer; statement of buyer’s rights. (a) In a home-solicitation sale the seller must present to the buyer and obtain his signature to a fully completed written agreement or offer to purchase which is in the same language as that principally used in the oral sales presentation and which designates as […]
§ 25A-41 – Restoration of down payment; retention of goods.
25A-41. Restoration of down payment; retention of goods. (a) Except as provided in this section, within 10 business days after a home-solicitation sale has been canceled or an offer to purchase revoked in accordance with G.S. 25A-40, the seller must tender to the buyer any payments made by the buyer and any note or other […]
§ 25A-42 – Duties as to care and return of goods; no compensation for services prior to cancellation.
25A-42. Duties as to care and return of goods; no compensation for services prior to cancellation. (a) Except as provided by the provisions on retention of goods by the buyer (G.S. 25A-41(d)), within a reasonable time after a home-solicitation sale has been canceled, the buyer must make available to the seller at the buyer’s residence […]
§ 25A-43 – Unconscionability.
25A-43. Unconscionability. (a) With respect to a consumer credit sale, if the court finds the agreement or any clause of the agreement to have been unconscionable at the time it was made, the court may refuse to enforce the agreement, or it may enforce the remainder of the agreement without the unconscionable clause, or it […]
§ 25A-44 – Remedies and penalties.
25A-44. Remedies and penalties. In addition to remedies hereinbefore provided, the following remedies shall apply to consumer credit sales: (1) In the event that a consumer credit sale contract requires the payment of a finance charge not more than two times in excess of that permitted by this Chapter, the seller or an assignee of […]
§ 25A-45 – Conflict with Consumer Credit Protection Act.
25A-45. Conflict with Consumer Credit Protection Act. In all cases of irreconcilable conflict between the provisions of this Chapter and the provisions of the Consumer Credit Protection Act, the provisions of the Consumer Credit Protection Act shall control. (1971, c. 796, s. 3.)
§ 25A-32 – Rebates on prepayment.
25A-32. Rebates on prepayment. Notwithstanding any provision in a consumer credit installment sale contract to the contrary, any buyer may satisfy the debt in full at any time before maturity, and in so satisfying such debt, shall receive a rebate, the amount of which shall be computed under the "rule of 78’s," as follows: "The […]
§ 25A-32.1 – Unearned finance charge credits on prepayment of loans secured by real property and mobile home loans.
25A-32.1. Unearned finance charge credits on prepayment of loans secured by real property and mobile home loans. (a) Notwithstanding any statutory or contractual provision to the contrary, in a consumer credit installment sale contract with an amount financed of five thousand dollars ($5000.00) or more secured by real estate or by a residential manufactured home […]
§ 25A-33 – Terms of payments.
25A-33. Terms of payments. A consumer credit installment sale contract shall provide for complete payment of all charges due under the contract, including the amount financed, the finance charge, and additional insurance charges, if any, within a period from the time of the sale of (1) Forty-two months, if the amount financed is less than […]
§ 25A-34 – Balloon payments.
25A-34. Balloon payments. With respect to a consumer credit sale, other than one pursuant to a revolving charge account, no scheduled payment may be more than ten percent (10%) larger than the average of earlier scheduled payments, except that the final payment may be twenty-five percent (25%) larger than the average of earlier scheduled payments. […]