New York § 313 Guaranties to sellers of liabilities of buyers under retail instalment contracts

New York Statutes

§ 313 — Guaranties to sellers of liabilities of buyers under retail instalment contracts

New York § 313

Law PEPPersonal Property

Art. 9Motor Vehicle Retail Instalment Sales Act

This text of New York § 313 (Guaranties to sellers of liabilities of buyers under retail instalment contracts) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Personal Property § 313 (2026).

Text

  § 313. Guaranties to sellers of liabilities of buyers under retail\ninstalment contracts. No guaranty given to the seller or to the seller\nand the seller's assignee of the liabilities of a buyer under a retail\ninstalment contract shall be valid unless the guaranty is incorporated\nin or endorsed on the contract or identifies the contract and specifies\nthe time balance thereof or, if the guaranty relates to one or more\nfuture retail instalment contracts, it limits the liability of the\nguarantor to contracts dated within a period of two years from the date\nof the guaranty and sets forth the maximum amount for which the\nguarantor shall be liable. A copy of the guaranty shall be given or\nmailed to the guarantor upon or immediately after the execution and\ndelivery of the original gua

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

§ 313. Guaranties to sellers of liabilities of buyers under retail\ninstalment contracts. No guaranty given to the seller or to the seller\nand the seller's assignee of the liabilities of a buyer under a retail\ninstalment contract shall be valid unless the guaranty is incorporated\nin or endorsed on the contract or identifies the contract and specifies\nthe time balance thereof or, if the guaranty relates to one or more\nfuture retail instalment contracts, it limits the liability of the\nguarantor to contracts dated within a period of two years from the date\nof the guaranty and sets forth the maximum amount for which the\nguarantor shall be liable. A copy of the guaranty shall be given or\nmailed to the guarantor upon or immediately after the execution and\ndelivery of the original guaranty by the guarantor.\n As used in this section, "retail instalment contract" and "contract"\ninclude a retail instalment contract as defined in the retail instalment\nsales act, constituting article ten of this chapter. This section does\nnot apply to a guaranty made by a seller or a holder of a retail\ninstalment contract.\n