§ 402. Provisions of retail instalment contracts and obligations. 1. A\nretail instalment contract or obligation shall be dated and in writing;\nthe printed portion thereof shall be in at least eight point type.\n 2. A contract or obligation shall contain the entire agreement of the\nparties with respect to the goods and services, including any promise,\nwhether made in writing or orally, by the seller, made as an inducement\nto the buyer to become a party to the contract or which is part of the\ncontract or which is made incidental to negotiations between the seller\nand the buyer with respect to the sale of the goods or services that are\nthe subject of the contract, that the seller will compensate the buyer\nfor referring customers or prospective customers to the seller for goods\nor services which the seller has for sale or for referring the seller to\nsuch customers or prospective customers. In any case in which, pursuant\nto the preceding provisions, the contract contains a promise to\ncompensate the buyer for referring customers or prospective customers to\nthe seller or the seller to such customers, the contract must contain a\nprovision to the effect that the amount otherwise owing under the\ncontract at any time is reduced by the amount of compensation owing\npursuant to such promise, and:\n (a) Both at the top of the contract or obligation and directly above\nthe space reserved for the signature of the buyer, the words RETAIL\nINSTALMENT CONTRACT or RETAIL INSTALMENT OBLIGATION, as the case may be,\nin at least ten point bold type; and\n (b) Either a notice in at least eight point bold type reading as\nfollows: NOTICE TO THE BUYER: 1. Do not sign this agreement before you\nread it or if it contains any blank space. 2. You are entitled to a\ncompletely filled in copy of this agreement. 3. Under the law, you have\nthe right to pay off in advance the full amount due and under certain\nconditions to obtain a partial refund of the credit service charge or a\nnotice in at least eight point bold type reading as follows: NOTICE TO\nTHE BUYER: 1. Do not sign this agreement before you read it or if it\ncontains any blank space. 2. You are entitled to a completely filled in\ncopy of this agreement. 3. Under the law, you have the right to pay off\nin advance the full amount due. If you do so, you may, depending on the\nnature of the credit service charge, either: (a) prepay without penalty,\nor (b) under certain circumstances obtain a rebate of the credit service\ncharge.\n 3. A contract or obligation shall:\n (a) Contain the names of the seller and the buyer, the place of\nbusiness of the seller, the residence or place of business of the buyer\nas specified by the buyer and an adequate description of the services\nand goods (including the make and model, if any, in the case of goods\ncustomarily sold by make and model); and\n (b) Set forth the following items:\n (1) All items required to be disclosed by the act of congress entitled\n"Truth in Lending Act" and the regulations thereunder, as such act and\nregulations may from time to time be amended;\n (2) If any instalment substantially exceeds in amount any prior\ninstalment other than the down-payment, contain the following legend\nprinted in ten point bold type or typewritten: THIS CONTRACT IS NOT\nPAYABLE IN INSTALMENTS OF EQUAL AMOUNTS: followed, if there be but one\nlarger instalment, by: AN INSTALMENT OF $..........WILL BE DUE ON\n..........or, if there be more than one larger instalment, by: LARGER\nINSTALMENTS WILL BE DUE AS FOLLOWS.........(insert the amount or amounts\nof every larger instalment and its due date.) In the case of a retail\ninstalment obligation, OBLIGATION shall be substituted for CONTRACT in\nthe required legend. If the credit service charge with respect to the\ncontract or obligation is calculated pursuant to subdivision four of\nsection four hundred four of this article, the disclosure provided for\nin this subparagraph may be omitted.\n 4
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