Title PEP, Personal Property

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

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

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

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

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a general act intended as a unified coverage of its subject matter, no part of it shall be construed to be impliedly repealed by subsequent legislation if that construction can reasonably be avoided.

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

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

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

§ 39. Successors to rights of creditors and purchasers. A transfer, charge, sale or assignment, or proceeding declared by this article, to be void, as against creditors or purchasers, is equally void as against the heirs, successors, personal representatives or assignees of such…

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

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

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

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

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

§ 403. Restrictions on retail instalment contracts and obligations. 1. No contract or obligation shall require or entail the execution of any note or series of notes by the buyer, which when separately negotiated, will cut off as to third parties any right of action or defense w…

§ 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 acknowledgment. The seller shall deliver to the buyer, or mail to him at his address shown on the contract or obligation, an executed copy thereof. Until the seller does so, a buyer who has not received the goods or serv…

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

§ 407. Statements of account; receipts. At any time after its execution, but not later than one year after the last payment thereunder, the holder of a contract or obligation shall, upon written request of the buyer, give or forward to the buyer a written statement of the dates …

§ 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 contrary provision of the personal property law, lien law, banking law or other law: 1. A financing agency may purchase a retail instalment contract, obligation or credit agreement, or indebtedness of a buyer to b…

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

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

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

§ 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 four hundred eleven of this article shall apply to an instalment sale of goods or services for any use. 2. The provisions of section four hundred eight of this article shall apply to an installment sale of eq…

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

§ 417. Severability. If any provision of this article or the application thereof to any person or circumstances is held unconstitutional, the remainder of the article and the application of such provision to other persons or circumstances shall not be affected thereby.

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

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

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

§ 421. Security interest in other property. Except as provided in section four hundred ten of this chapter, no retail instalment contract or obligation, or any other agreement executed in connection therewith, may provide for the creation of a security interest in any real or pe…

§ 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 sales protection act. The purpose of this act is to afford consumers a "cooling-off" period to cancel contracts which are entered into as a result of high pressure door-to-door sales tactics.

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

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

§ 428. Form of notice; statement of buyer's rights. 1. In a door-to-door sale, the seller shall furnish to the buyer (a) a fully completed receipt or copy of any contract pertaining to such sale at the time of its execution, which is in the same language, e.g. Spanish, as that p…

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

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

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

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

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

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

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

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

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

§ 446. Restriction on assignment of obligation. 1. A seller shall not negotiate, transfer, sell or assign any note or other evidence of indebtedness to a finance company or other third party prior to midnight of the fifth business day following the day the seller sent written no…

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