North Carolina § 25A-41 Restoration of down payment; retention of goods

North Carolina Statutes

§ 25A-41 — Restoration of down payment; retention of goods

North Carolina·Ch. 25A Retail Installment Sales Act

(a)Except as provided in this section, within 10 business days after a home-solicitation sale has been canceled or an offer to purchase revoked in accordance with G.S. 25A-40, the seller must tender to the buyer any payments made by the buyer and any note or other evidence of indebtedness.

(b)If the down payment includes goods traded in, the goods must be tendered at the buyer's residence in substantially as good condition as when received by the seller. If the seller fails to tender the goods as provided by this section, the buyer may elect to recover an amount equal to the trade-in allowance stated in the agreement.

(c)Repealed by Session Laws 1975, c. 805, s. 3.

(d)Until the seller has complied with the obligations imposed by this section, the buyer may retain possession of goods de

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Except as provided in this section, within 10 business days after a home-solicitation sale has been canceled or an offer to purchase revoked in accordance with G.S. 25A-40, the seller must tender to the buyer any payments made by the buyer and any note or other evidence of indebtedness.
(b) If the down payment includes goods traded in, the goods must be tendered at the buyer's residence in substantially as good condition as when received by the seller. If the seller fails to tender the goods as provided by this section, the buyer may elect to recover an amount equal to the trade-in allowance stated in the agreement.
(c) Repealed by Session Laws 1975, c. 805, s. 3.
(d) Until the seller has complied with the obligations imposed by this section, the buyer may retain possession of goods delivered to him by the seller and has a lien on the goods in his possession or control for any recovery to which he is entitled. (1971, c. 796, s. 1; 1975, c. 805, s. 3.)

North Carolina § 25A-41 (Restoration of down payment; retention of goods) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.