§ 25A-27 – Application of payments.
25A-27. Application of payments. (a) Where a seller in a consumer credit sale makes a subsequent sale to a buyer and takes a security interest pursuant to G.S. 25A-23 in goods previously purchased by the buyer from the seller, the seller shall make application of payments received, for the purpose of determining the amount of […]
§ 25A-28 – Form of consumer credit installment sale contract.
25A-28. Form of consumer credit installment sale contract. Every consumer credit installment sale contract shall be in writing, dated and signed by the buyer. (1971, c. 796, s. 1.)
§ 25A-29 – Default charges.
25A-29. Default charges. (a) If any installment is past due for 10 days or more according to the original terms of the consumer credit installment sale contract, a default charge may be made in an amount of fifteen dollars ($15.00). A default charge may be imposed only one time for each default. (b) If a […]
§ 25A-30 – Deferral charges.
25A-30. Deferral charges. (a) A seller may, by agreement with the buyer, defer the due date of all or any part of one or more installments under an existing consumer credit installment sale contract. (b) Except as provided by subsections (e) and (f) of this section, a deferral agreement must be in writing, dated and […]
§ 25A-31 – Consolidation and refinancing.
25A-31. Consolidation and refinancing. (a) A seller and a buyer may agree at any time to refinance an existing consumer credit installment sale contract or to consolidate into a single debt repayable on a single schedule of payments, two or more consumer credit installment sale contracts. (b) A refinancing or consolidation agreement must be in […]
§ 25A-5 – "Services" defined.
25A-5. "Services" defined. (a) "Services" includes: (1) Work, labor, and other personal services; and (2) Privileges with respect to transportation, hotel and restaurant accommodations, education, entertainment, recreation, physical culture, hospital accommodations, funerals and other similar services. (b) "Services" does not include: (1) Services for which the cost is by law fixed or approved by or […]
§ 25A-21 – Attorneys' fees.
25A-21. Attorneys’ fees. With respect to a consumer credit sale: (1) In the event that the seller institutes a suit and prevails in the litigation and obtains a money judgment, the presiding judge shall allow a reasonable attorney’s fee to the duly licensed attorney representing the seller in such suit, said attorney’s fee to be […]
§ 25A-6 – "Seller" defined.
25A-6. "Seller" defined. "Seller" means one regularly engaged in the business of selling goods or services. Unless otherwise provided, "seller" also means and includes an assignee of the seller’s right to payment but use of the term does not itself impose on an assignee any obligation of the seller with respect to events occurring before […]
§ 25A-7 – "Cash price" defined.
25A-7. "Cash price" defined. "Cash price" of goods and services means the price at which the goods or services are offered for sale by the seller to cash buyers in the ordinary course of business and may include: (1) Applicable sales, use, and excise and documentary stamp taxes; and (2) The cash price of accessories […]
§ 25A-8 – "Finance charge" defined.
25A-8. "Finance charge" defined. (a) "Finance charge" means the sum of all charges payable directly or indirectly by the buyer and imposed by the seller as an incident to the extension of credit, including any of the following types of charges which are applicable: (1) Interest, time price differential, service, carrying or other similar charge […]