§ 311 — Installment purchases

§ 311. Installment purchases. 1. No person who has received, or whose\nassignor has received, under a contract for the purchase of real or\npersonal property, or of lease or bailment with a view to purchase of\nsuch property, a deposit or installment of the purchase price or a\ndeposit or installment under the contract, lease or bailment from a\nperson or from the assignor of a person who, after the date of payment\nof such deposit or installment, has entered military service, shall\nexercise any right or option under such contract to rescind or terminate\nthe contract or resume possession of the property for nonpayment of any\ninstallment thereunder due or for any other breach of the terms thereof\noccurring prior to or during the period of such military service, except\nby action in a court of competent jurisdiction; provided, that nothing\ncontained in this section shall prevent the modification, termination,\nor cancellation of any such contract, or prevent the repossession,\nretention, foreclosure, sale or taking possession of property purchased\nor received or which is security for any obligation under such contract,\npursuant to a mutual agreement of the parties thereto, or their\nassignees, if such agreement is executed in writng subsequent to the\nmaking of such contract and during or after the period of military\nservice of the person concerned.\n 2. Any person who shall knowingly resume possession of property which\nis the subject of this section otherwise than as provided in subdivision\none hereof or attempt so to do, shall be guilty of a misdemeanor and\nshall be punished by imprisonment not to exceed one year, or by fine not\nto exceed one thousand dollars, or both.\n 3. Upon the hearing of such action the court may order the repayment\nof prior installments or deposits or any part thereof, as a condition of\nterminating the contract and resuming possession of the property, or\nmay, in its discretion, on its own motion, and shall, except as provided\nin section three hundred and thirteen, on application to it by such\nperson in military service or some person on his behalf, order a stay of\nproceedings as provided in this act except that such stay under this\nsection may be ordered for the period of military service and six months\nthereafter or any part of such period, unless, in the opinion of the\ncourt, the ability of the defendant to comply with the terms of the\ncontract is not materially affected by reason of such service; or it may\nmake such other disposition of the case as may be equitable to conserve\nthe interests of all parties.\n