§ 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-22 – Receipts for payments; return of title documents upon full payment.
25A-22. Receipts for payments; return of title documents upon full payment. (a) When any payment is made under any consumer credit sale transaction, the person receiving such payment shall, if the payment is made in cash, give the buyer a written receipt therefor. If the buyer specifies that the payment is made on one of […]
§ 25A-23 – Collateral taken by the seller.
25A-23. Collateral taken by the seller. (a) The seller in a consumer credit sale may take a security interest only in the following property of the buyer to secure the debt arising from the sale: (1) The property sold, (2) Property previously sold by the seller to the buyer and in which the seller has […]
§ 25A-24 – Identification of instruments of indebtedness.
25A-24. Identification of instruments of indebtedness. With respect to consumer credit sales, each instrument of indebtedness shall be identified on the face of the instrument as a consumer credit document, or otherwise clearly indicate on its face that it arises out of a consumer credit sale, provided, that such designation of an instrument of indebtedness […]
§ 25A-25 – Preservation of consumers' claims and defenses.
25A-25. Preservation of consumers’ claims and defenses. (a) In a consumer credit sale, a buyer may assert against the seller, assignee of the seller, or other holder of the instrument or instruments of indebtedness, any claims or defenses available against the original seller, and the buyer may not waive the right to assert these claims […]
§ 25A-26 – Substitution of collateral.
25A-26. Substitution of collateral. Subject to the provisions of G.S. 25A-23, if all involved parties agree, there may be a substitution of collateral under a security instrument in a consumer credit sale. For such substitution, the seller may impose a fee not to exceed ten percent (10%) of the unpaid balance of the debt or […]