17:16C-64. Prohibited contract provisions
279 words·~1 min read·
/nj/title-17/chapter-16c/17-16c-64·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No home repair contract shall contain:
(a)any acceleration clause under which any part or all of the time balance not yet matured may be declared due and payable because the holder deems himself to be insecure;
(b)any agreement to pay any amount other than the time sales price of the goods or services furnished under the contract, provided that a retail installment contract under the Retail Installment Sales Act of 1960 may be included in a home repair contract;
(c)any power of attorney to confess judgment or any other power of attorney;
(d)any provision relieving the home repair contractor from liability upon any claim which the owner may have under the contract;
(e)any provisions whereby the owner waives any right of action against the home repair contractor or holder or other person acting in his or their behalf for any act committed in the collection of the payments under the contract or in the repossession of the goods, the subject matter of the home repair contract;
(f)any assignment of or order for the payment of any salary wages, commissions or other compensation for services, or any part thereof, earned or to be earned;
(g)any provision for a payment or credit to any owner for the privilege of placing any sign on the premises where the work is being done or for recommending to the home repair contractor the names of any person or persons, who might be interested in making an installment home repair contract unless such provision has been approved by the commissioner.
L.1960, c. 41, p. 166, s. 3. Amended by L.1968, c. 220, s. 4, eff. July 30, 1968.