District of Columbia § 28-3807 Negotiable instruments prohibited.

District of Columbia Statutes

§ 28-3807 — Negotiable instruments prohibited.

District of Columbia·Title 28 Commercial Instruments and Transactions. [Enacted title]·Ch. 38 Consumer Protections.·Subch. I General.

(a)In a consumer credit sale, no seller shall take or otherwise arrange for the consumer to sign an instrument, except a check, payable “to order” or “to bearer” as evidence of the credit obligation of the consumer.

(b)Any holder of an instrument prohibited by subsection (a) of this section 28-3807, if he takes it with knowledge of a violation of this section, takes it subject to all claims and defenses of the consumer up to the amount owing on the transaction total at the time of the assignment.

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(a) In a consumer credit sale, no seller shall take or otherwise arrange for the consumer to sign an instrument, except a check, payable “to order” or “to bearer” as evidence of the credit obligation of the consumer.

(b) Any holder of an instrument prohibited by subsection (a) of this section 28-3807, if he takes it with knowledge of a violation of this section, takes it subject to all claims and defenses of the consumer up to the amount owing on the transaction total at the time of the assignment.

District of Columbia § 28-3807 (Negotiable instruments prohibited.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.