17:16C-28. Inclusion in retail installment contract of additional goods purchased after original agreement; additional statements
158 words·~1 min read·
/nj/title-17/chapter-16c/17-16c-28·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Whenever a retail installment contract by its terms permits the inclusion of additional goods purchased after the original agreement, and such goods are so purchased and the amount due on the new purchase is combined with an unpaid balance on any prior purchase so as to permit the retail seller to retain title to or reserve a lien upon all goods under the combined agreement, the retail seller shall, at the time of the additional purchase, deliver to the retail buyer and attach to the original agreement:
(a)A statement containing all the information with respect to the additional purchase required to be included in a retail installment contract; and
(b)A statement showing the amount due on the agreement immediately previous to the new purchase, the amount due after the new purchase, the payments agreed to be made thereafter, and the number of additional months required to complete the payments.
L.1960, c. 40, p. 152, s. 28.