57A-3A-102. Instruments to be marked consumer paper--Holder not holder in due course.
71 words·~1 min read·
/sd/title-57/chapter-57-3/57a-3a-102A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If any contract for sale or lease of consumer goods or services on credit, entered into between a retail seller and a retail buyer, requires or involves the execution of a promissory note, instrument or other evidence of indebtedness, hereinafter called instrument, such instrument shall have printed conspicuously on the face thereof the words "consumer paper," and a holder of such instrument shall not be deemed a holder in due course.