§ 6324. Agreement resulting from telephone or mail communications.
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§ 6324. Agreement resulting from telephone or mail communications.
(a)General rule.-- A closed-end credit agreement that is negotiated and entered into by a buyer and seller by telephone or mail is permitted under this subchapter and subject to this section if:
(1)the seller did not personally solicit the sale; and
(2)a catalog or other printed solicitation that is generally available to the public clearly sets forth the purchase price, time sale price and other terms regarding the sale of the goods or services.
(b)Applicability.-- For a sale under this section, section 6323(a) (relating to copy of agreement) does not apply.
(c)Seller's completion of agreement.-- If a seller under this section receives a closed-end credit agreement from a buyer and the agreement contains blank spaces, the seller may insert in the appropriate blank spaces the purchase price, time sale price and other terms regarding the sale of the goods or services, as set forth in the seller's current catalog or other printed solicitation.
(d)Copy of agreement or statement.-- Prior to the due date of the first installment under the agreement, the seller shall furnish to the buyer either a legible and complete copy of the agreement or a written statement of the items inserted in the blank spaces described in subsection (c).
12c6324v
Cross References. Section 6324 is referred to in section 6323 of this title.
12c6325s