Sec. 42-151. Definitions.
131 words·~1 min read·
/ct/title-42/chapter-742-consumer-contracts/42-151·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The following definitions shall apply in this chapter:
(a)Consumer. A “consumer” is an individual who borrows, leases, buys or obtains money, property or services under a written agreement.
(b)Consumer contract. A written agreement is a “consumer contract,” if:
(1)A consumer enters into the agreement primarily for personal, family or household purposes; and
(2)The agreement is one in which the consumer:
(A)Borrows up to twenty-five thousand dollars or receives up to twenty-five thousand dollars in credit from a person who lends money or extends credit in the ordinary course of business; or
(B)agrees to pay up to twenty-five thousand dollars to buy or lease personal property or services from a person who is acting in the ordinary course of business; or
(C)leases any residential dwelling.