It is the policy of the Government of the United States Virgin Islands to protect consumers in their personal business dealings with sophisticated business entities. Clearly written consumer contracts, as opposed to commercial business contracts, will offer such protection.
(a) “Consumer contract”, which includes writings required to complete the consumer transaction, means a written agreement in which a natural person: (1) leases or licenses personal property or leases real property for residential purposes; (2) obtains credit; (3) obtains personal insurance coverage; (4) borrows money; (5) purchases personal property; or (6) contracts for services, including […]
A consumer contract entered into on or after October 30, 1984 shall be written in clear, simple, understandable and easily readable language. In determining whether a consumer contract has been written in clear, simple, understandable and easily readable language, a court or primary regulator shall take into consideration the guidelines set forth in this chapter. […]
A creditor, seller, insurer or lessor who fails to comply with this chapter shall be liable to a consumer who is a party to the consumer contract for actual damages sustained plus punitive damages up to $1,000. The creditor, seller, insurer or lessor shall also be liable for the consumer’s reasonable attorney’s fees and costs.
Class actions may be brought under the provisions of this chapter, but the amount of punitive damages shall be limited to $10,000 against any one seller, lessor, insurer or creditor.
(a) There shall be no liability under sections 253 and 254 of this title if: (1) Both parties to the contract have performed their obligations under the contract. (2) The creditor, seller, insurer, or lessor attempts in good faith to comply with this chapter in preparing the consumer contract. Use of a model “plain language” […]
This chapter shall not preclude a debtor, buyer, insured or lessee from making any claims which would have been available to him if this chapter were not in effect.
(a) A creditor, seller, insurer or lessor may request an opinion from a primary regulator as to whether a consumer contract complies with this chapter. A reasonable fee may be charged by the primary regulator for processing the request. The Chairman of the Banking Board may render an opinion to any banking institution which has […]
(a) This chapter shall not apply to consumer contracts involving amounts of more than $25,000, except for homeowners and tenant insurance policies. (b) Real estate transactions, including title insurance policies, are excluded from this chapter, except that real estate leases for residential purposes are included.
(a) To insure that a consumer contract shall be clear, simple, understandable and easily readable, the following are guidelines that a court or primary regulator may consider in determining whether a consumer contract as a whole fails to comply with this chapter: (1) Cross-references that are confusing. (2) Sentences that are of greater length than […]
No consumer contract shall contain a waiver of any rights under this chapter. A violation of this chapter shall not render any consumer contract void or voidable, or serve as a defense in an action breach thereof unless enforcement of the contract which violates this chapter would be unconscionable.
The Director of the Consumer Services Administration or a Primary Regulator or any interested person may seek injunctive relief in the territorial or district court. The court may authorize reasonable attorney’s fees and court costs in such a proceeding.
