Title PEP, Personal Property

§ 348. Transactions subject to article by agreement. Parties to a\nmotor vehicle lease agreement that is not a retail lease agreement, as\ndefined in subdivision five of section three hundred thirty-one of this\narticle, because the vehicle is not being leased by a natural perso…

§ 349. Applicability of certain provisions hereof to retail lease of a\nmotor vehicle for any use. The provisions of subdivision one of section\nthree hundred thirty-five, section three hundred thirty-six and\nsubdivision eleven of section three hundred thirty-seven of this arti…

§ 350. Waiver void. Any waiver of the provisions of this article by\nthe lessee shall be unenforceable and void.\n

§ 351. Supplementary general principles of law applicable. Unless\ndisplaced by the particular provisions of this article, other statutes\nof this state applicable to personal property leases and the principles\nof law and equity, including the law relative to capacity to contra…

§ 352. Construction against implicit repeal. This article being a\ngeneral act intended as a unified coverage of its subject matter, no\npart of it shall be construed to be impliedly repealed by subsequent\nlegislation if that construction can reasonably be avoided.\n

§ 353. Severability. If any provision of this article or the\napplication thereof to any person or circumstances is held invalid, the\ninvalidity does not affect other provisions or applications of this\narticle which can be given effect without the invalid provision or\napplica…

§ 37. Fraudulent intent a question of fact. The question of the\nexistence of fraudulent intent in cases arising under this article, is a\nquestion of fact and not of law.\n

§ 38. Transfers or charges without consideration. A transfer or charge\nshall not be adjudged fraudulent as against creditors or purchasers,\nsolely on the ground that it was not founded on a valuable\nconsideration.\n

§ 39. Successors to rights of creditors and purchasers. A transfer,\ncharge, sale or assignment, or proceeding declared by this article, to\nbe void, as against creditors or purchasers, is equally void as against\nthe heirs, successors, personal representatives or assignees of s…

§ 40. Bona fide purchasers. This article does not affect or impair the\ntitle of a purchaser or incumbrancer for a valuable consideration,\nunless it appear that such purchaser or incumbrancer had previous notice\nof the fraudulent intent of his immediate vendor, or of the fraud…

§ 401. Definitions. In this article, unless the context or subject\nmatter otherwise requires:\n 1. "Goods" means all chattels personal, other than things in action or\nmoney, sold for other than a commercial or business use or for purpose\nof resale. The term includes goods whi…

§ 402. Provisions of retail instalment contracts and obligations. 1. A\nretail instalment contract or obligation shall be dated and in writing;\nthe printed portion thereof shall be in at least eight point type.\n 2. A contract or obligation shall contain the entire agreement of…

§ 402A. Merchandise certificates and obligations therefor. 1. A\nretail seller may issue merchandise certificates to a retail buyer, to\nbe paid for in instalments and to be used solely in exchange for goods\nand services with a cash sale price in the face amount of such\ncertif…

§ 402B. Total loss notice and waiver of the gap amount. 1. If the\nretail instalment contract provides that the buyer shall be responsible\nupon a total loss of the goods occasioned by theft, confiscation or\nphysical damage for the gap amount as defined in paragraph fifty-two o…

§ 403. Restrictions on retail instalment contracts and obligations.\n1. No contract or obligation shall require or entail the execution of\nany note or series of notes by the buyer, which when separately\nnegotiated, will cut off as to third parties any right of action or\ndefen…

§ 404. Credit service charge limitation. 1. A seller may, in a retail\ninstalment contract or obligation, contract for and, if so contracted\nfor, the holder thereof may charge, receive and collect a credit service\ncharge computed on the principal balance of the contract or obl…

§ 405. Delivery of copy of contract or obligation; buyer's\nacknowledgment. The seller shall deliver to the buyer, or mail to him\nat his address shown on the contract or obligation, an executed copy\nthereof. Until the seller does so, a buyer who has not received the\ngoods or …

§ 406. Notice of assignment; payments. Unless the buyer has notice of\nactual or intended assignment of a contract, obligation, or credit\nagreement payment thereunder made by the buyer to the last known holder\nof such contract, obligation or credit agreement shall be binding u…

§ 407. Statements of account; receipts. At any time after its\nexecution, but not later than one year after the last payment\nthereunder, the holder of a contract or obligation shall, upon written\nrequest of the buyer, give or forward to the buyer a written statement\nof the da…

§ 408. Credit upon anticipation of payments. 1. Notwithstanding the\nprovisions of any contract or obligation to the contrary, any buyer may\npay it in full at any time before the maturity of the final instalment\nof the time balance thereof and if he does so shall receive and b…

§ 409. Refinancing. 1. The holder of a retail instalment contract or\nobligation or note may, upon agreement with the buyer, extend the\nscheduled due date or defer the scheduled payment of all or of any part\nof any instalment or instalments payable thereunder. The agreement fo…

§ 410. Add-ons to and consolidations of retail instalment contracts\nand obligations. 1. A retail instalment contract or obligation which\notherwise conforms to the requirements of this article may contain the\npromise or agreement of the buyer to pay in substantially equal peri…

§ 411. Terms of purchase by financing agency. Notwithstanding any\ncontrary provision of the personal property law, lien law, banking law\nor other law:\n 1. A financing agency may purchase a retail instalment contract,\nobligation or credit agreement, or indebtedness of a buyer…

§ 412. Cancellation. After the payment of all sums for which the buyer\nis obligated under a contract or obligation, and upon written demand\nmade by the buyer, the holder shall deliver, or mail to the buyer at his\nlast known address, such one or more good and sufficient instru…

§ 412-a. Cancellation of contracts for future consumer services. 1.\nContract for future consumer services. As referred to in this section,\nthe term "contract for future consumer services" shall mean any contract\nentered into for consumer services to be performed in the future…

§ 413. Retail instalment credit agreements. 1. (a) A retail instalment\ncredit agreement shall be dated and in writing and the printed portion\nthereof shall be in at least eight point type. No retail instalment\ncredit agreement shall be signed by the buyer when it contains bla…

§ 414. Penalties. 1. Any person who shall wilfully violate any\nprovision of this article shall be guilty of a misdemeanor and upon\nconviction shall be punished by a fine not exceeding five hundred\ndollars.\n 2. In case of failure by any person to comply with the provisions of…

§ 415. Exceptions. 1. The provisions of sections four hundred nine and\nfour hundred eleven of this article shall apply to an instalment sale of\ngoods or services for any use.\n 2. The provisions of section four hundred eight of this article shall\napply to an installment sale …

§ 416. Waiver. Any waiver by the buyer of the provisions of this\narticle shall be unenforceable and void.\n

§ 417. Severability. If any provision of this article or the\napplication thereof to any person or circumstances is held\nunconstitutional, the remainder of the article and the application of\nsuch provision to other persons or circumstances shall not be affected\nthereby.\n

§ 418. Short title. This article may be cited as the "Retail\nInstalment Sales Act."\n

§ 419. Refund credit on cancellation of credit related insurance or\nprepayment of contract. The provisions of this article requiring refunds\nand refund credits with respect to group credit life insurance in cases\nof cancellation of group credit life insurance or of prepayment…

§ 420. Guaranties to sellers of liabilities of buyers under retail\ninstalment contracts. (a) No guaranty given to the seller or to the\nseller and the seller's assignee of the liabilities of a buyer under a\nretail instalment contract shall be valid unless the guaranty is\ninco…

§ 421. Security interest in other property. Except as provided in\nsection four hundred ten of this chapter, no retail instalment contract\nor obligation, or any other agreement executed in connection therewith,\nmay provide for the creation of a security interest in any real or…

§ 422. Claim for deficiency after default and repossession. If a buyer\ndefaults on any instalment of the time sale price under a retail\ninstalment contract, and the holder obtains possession of the goods\nwhich are the subject matter of such contract and disposes of such goods…

§ 425. Short title; purpose. This act may be cited as the door-to-door\nsales protection act. The purpose of this act is to afford consumers a\n"cooling-off" period to cancel contracts which are entered into as a\nresult of high pressure door-to-door sales tactics.\n

§ 426. Definitions. In this article:\n 1. "Door-to-door sale" shall mean a sale, lease or rental of consumer\ngoods or services in which the seller or his representative personally\nsolicits the sale, including those in response to or following an\ninvitation by the buyer, and t…

§ 427. Buyer's or other obligor's right to cancel. 1. In addition to\nany right otherwise to revoke an offer, the buyer or other person\nobligated for any part of the purchase price may cancel a door-to-door\nsale until midnight of the third business day, or until midnight of th…

§ 428. Form of notice; statement of buyer's rights. 1. In a\ndoor-to-door sale, the seller shall furnish to the buyer\n (a) a fully completed receipt or copy of any contract pertaining to\nsuch sale at the time of its execution, which is in the same language,\ne.g. Spanish, as t…

§ 429. Restoration of down payment. 1. Within ten days after a\ndoor-to-door sale has been cancelled or an offer to purchase revoked,\nthe seller shall tender to the buyer all payments made by the buyer and\nany note or other evidence of indebtedness.\n 2. If the down payment in…

§ 430. Duty of buyer. 1. Except as provided by subdivision four of\nsection four hundred twenty-nine, within a reasonable time after a\ndoor-to-door sale has been cancelled or an offer to purchase revoked,\nthe buyer upon demand shall tender to the seller any goods delivered by\…

§ 431. Restriction on assignment of obligation. 1. A seller shall not\nnegotiate, transfer, sell or assign any note or other evidence of\nindebtedness to a finance company or other third party prior to midnight\nof the fifth business day, or in the case of a contract for door-to…

§ 440. Short title; purpose. This article may be cited as the\n"telephone sales protection act". The purpose of this article is to\nafford consumers a "cooling-off" period to cancel a sale which is made\nas a result of high pressure telephone sales tactics.\n

§ 441. Definitions. 1. (a) "Telephone sales business" shall mean a\nbusiness which is primarily engaged in the solicitation of orders by\ntelephone for:\n (1) merchandise or services connected with merchandise to be shipped\nto the customer through the mail or by other carrier, …

§ 442. Buyer's or other obligor's right to cancel. 1. In addition to\nany other right otherwise to revoke an offer, the buyer or other person\nobligated for any part of the purchase price may cancel the telephone\nsale until midnight of the third business day after the day on wh…

§ 443. Form of notice; statement of buyer's rights. 1. In a telephone\nsale, the seller shall furnish to the buyer, in the same language as\nthat principally used in the sales presentation, a written notice, which\nshall contain in not less than ten-point boldface type, a statem…

§ 444. Restoration of down payment. 1. Within thirty days after a\ntelephone sale has been cancelled, the seller shall recredit the buyer's\ncharge account.\n 2. If the down payment includes goods traded in, the goods shall be\ntendered in substantially as good condition as when…

§ 445. Duty of buyer. 1. Except as provided in subdivision four of\nsection four hundred forty-four of this article, within a reasonable\ntime after a telephone sale has been cancelled and the buyer has\nreceived written notice from the seller that the buyer's charge account\nhas…

§ 446. Restriction on assignment of obligation. 1. A seller shall not\nnegotiate, transfer, sell or assign any note or other evidence of\nindebtedness to a finance company or other third party prior to midnight\nof the fifth business day following the day the seller sent written…

§ 447. Enforcement; penalties. Whenever there shall be a violation of\nthis article, an application may be made by the attorney general in the\nname of the people of the state of New York to a court or justice having\njurisdiction by a special proceeding to issue an injunction, …