Title 12A — Consumer Code
8 chapters · 181 sections in this title.
12A V.I.C. § 280 Short title
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This chapter may be cited as the “Rental-Purchase Disclosure Act”.
12A V.I.C. § 281 Definitions
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(a) For purposes of the chapter:(a) The term “advertisement” means a commercial message in any medium that aids, promotes or assists, directly or indirectly, a rental-purchase agreement.(b) The term “agricultural purpose” includes:(1) the production, harvest, exhibition, marketin…
12A V.I.C. § 282 Exempted transaction
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(a) Rental-purchase agreements that comply with this chapter are not governed by the laws relating to:(1) a security interest as defined in title 11A Virgin Islands Code, Article 1, § 1-201(b)(35) and governed by Article 9 of title 11A Virgin Islands Code. (1) a security interest…
12A V.I.C. § 283 General disclosure requirements
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(a) In general. The merchant under a rental-purchase agreement shall disclose in a clear and conspicuous manner to the consumer the information required by sections 284, 285 and 286 of this chapter. In an agreement involving more than one merchant, only one merchant is required t…
12A V.I.C. § 284 Rental purchase disclosures
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(a) For each rental-purchase agreement, the merchant shall disclose to the consumer, to the extent applicable under the agreement, the following:(a) the total amount of the first periodic payment and the total amount of advance payments, delivery charges, trade-in allowances, fee…
12A V.I.C. § 285 Point of rental disclosures
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(a) Each item of property displayed or offered in connection with a rental-purchase agreement must have stamped or affixed to the property a card, tag or label that clearly and conspicuously discloses only the following:(a) whether the property is new or used;(b) the price of the…
12A V.I.C. § 286 Agreement provisions
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(a) In general. Each rental-purchase agreement must:(1) provide a brief description of the rented property sufficient to identify the rented property to the consumer and merchant. If a rental is for multiple items of property, a description of each item may be provided in a separ…
12A V.I.C. § 287 Prohibited provisions of rental-purchase agreement
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(a) A rental-purchase agreement or any document that the merchant requests the consumer to execute may not contain:(a) a confession of judgment;(b) a negotiable instrument;(c) a security interest or any other claim of a property interest in any goods, except those goods the use o…
12A V.I.C. § 288 Receipts and accounts
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A merchant shall provide the consumer a written receipt for each payment made by cash, check or money order, the date, the total number of rental payments made and the total number of payments necessary to acquire ownership of the property.
12A V.I.C. § 289 Renegotiations and extensions
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(a) A renegotiation of a rental-purchase agreement is deemed to be a new agreement for purposes of this chapter, requiring new disclosures under sections 284 and 286. A renegotiation shall be considered to occur when an existing rental-purchase agreement is satisfied and replaced…
12A V.I.C. § 290 Rental-purchase advertising
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(a) Advertisements. If an advertisement for a rental-purchase agreement refers to, or states, the amount of any payment or the right to acquire ownership, the merchant that makes the advertisement shall also clearly and conspicuously state in the advertisement the following infor…
12A V.I.C. § 291 Civil liability
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(a) Liability amount. Except as otherwise provided in this chapter, a merchant who willfully violates this chapter with respect to a consumer is liable to the consumer in an amount equal to the following:(1) In an action by an individual consumer, the sum of:(A) actual damages su…
12A V.I.C. § 292 Defenses of merchants
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(a) A merchant is not liable:(a) for any violation of the requirements of this chapter if within sixty days after discovering the violation, and before an action is filed against a merchant or written notice of the violation is received from the consumer, the merchant notifies th…
12A V.I.C. § 293 Liability of assignees
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(a) Assignees. For purposes of sections 291 and 292 and this chapter, the term “merchant” includes an assignee of a merchant. However, an action under section 291 for a violation of this chapter may be brought against an assignee only if the violation is apparent on the face of t…
12A V.I.C. § 294 Effect on government agencies
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No civil liability or criminal penalty under this chapter may be imposed on the United States or any of its departments or agencies, any territorial or political subdivision, or any agency of the territory or political subdivision.