New Mexico § 56-1-9 Violation; bar to recovery

New Mexico Statutes

§ 56-1-9 — Violation; bar to recovery

New Mexico § 56-1-9

Ch. 56Commercial Instruments and Transactions

Art. 1Retail Installment Sales

This text of New Mexico § 56-1-9 (Violation; bar to recovery) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 56-1-9 (2026).

Text

Any seller who enters into any contract or agreement which does not comply with the provisions of this act [56-1-1 to 56-1-13 NMSA 1978] or who violates any provision of this act except as a result of an accidental or bona fide error shall be barred from the recovery of any time price differential, official fees, or any delinquency or collection charge under or in connection with the related retail installment contract or purchases under a retail charge agreement; but the seller may nevertheless recover from the buyer an amount equal to the cash price of the goods or services and the cost to the seller of any insurance included in the transaction.

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Any seller who enters into any contract or agreement which does not comply with the provisions of this act [56-1-1 to 56-1-13 NMSA 1978] or who violates any provision of this act except as a result of an accidental or bona fide error shall be barred from the recovery of any time price differential, official fees, or any delinquency or collection charge under or in connection with the related retail installment contract or purchases under a retail charge agreement; but the seller may nevertheless recover from the buyer an amount equal to the cash price of the goods or services and the cost to the seller of any insurance included in the transaction.