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138 chapters · 841 sections in this title.
10 M.R.S. § 1121 Purpose
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The purpose of this chapter is to enable the average consumer, who makes a reasonable effort under ordinary circumstances, to read and understand the terms of loan and lease documents without having to obtain the assistance of a professional.
10 M.R.S. § 1122 Definitions
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As used in this chapter unless the context clearly indicates otherwise, the following terms shall have the following meanings. [PL 1979, c. 483 (NEW).] 1. Agreement. "Agreement" means any writing which is substantially prepared in advance of a consumer loan or consumer lease and …
10 M.R.S. § 1123 Scope
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1. Application. Except as provided in subsection 2, this chapter applies to any agreement signed in connection with a consumer loan or consumer lease entered into in this State between a consumer who is a resident of this State at the time of the loan or lease and a supervised le…
10 M.R.S. § 1124 Requirements for agreements
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After October 1, 1982, every consumer loan agreement, and after January 1, 1987, every consumer lease agreement, shall be: [PL 1985, c. 763, Pt. A, §71 (AMD).] 1. Plain language. Written in a clear and coherent manner using words with common and everyday meanings; and 2. Meaningf…