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GEORGIA CODE (Last Updated: August 20, 2013) |
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Title 10. COMMERCE AND TRADE |
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Chapter 1. SELLING AND OTHER TRADE PRACTICES |
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Article 1. RETAIL INSTALLMENT AND HOME SOLICITATION SALES |
| § 10-1-1. Short title |
| § 10-1-2. Definitions; construction |
| § 10-1-3. Requirements for retail installment contracts; time price differential; prepayment; inclusion of construction permit costs |
| § 10-1-4. Requirements for revolving accounts; limitations on time price differential |
| § 10-1-5. Mail order and telephone sales |
| § 10-1-6. Buyer's right to cancel home solicitation sale |
| § 10-1-7. Providing for payment of delinquency charges, attorneys' fees, court costs, and check dishonor fees |
| § 10-1-8. Security interest not taken on certain items; application of payments to revolving accounts; written agreements |
| § 10-1-9. Transfer of retail installment contracts or revolving accounts |
| § 10-1-10. Disposition of goods repossessed after default; right to recover deficiency |
| § 10-1-11. Second mortgage statute not affected; exemption from loan and interest statutes |
| § 10-1-12. Prior contracts or accounts not affected |
| § 10-1-13. Waiver of this article void |
| § 10-1-14. Limitation of actions |
| § 10-1-15. Criminal and civil penalties |
| § 10-1-16. Inapplicability of this article to educational entities and student loan transactions |
REFS & ANNOS
TITLE 10 Chapter 1 Article 1 NOTE
CROSS REFERENCES. --Criminal penalty for offense of improper solicitation of money, § 16-9-52. Criminal penalty for false statements by telephone solicitors, § 16-9-54.
LAW REVIEWS. --For article discussing federal truth-in-lending provisions and their relation to state laws, see 6 Ga. St. B.J. 19 (1969). For article, "Acceleration Clauses in Georgia: Consumer Installment Contracts and the Federal Truth-In-Lending Act," see 27 Mercer L. Rev. 969 (1976). For article discussing methods of computation of finance charges in Georgia consumer credit contracts, see 30 Mercer L. Rev. 281 (1978). For annual survey of commercial law, see 35 Mercer L. Rev. 53 (1983). For article, "The Federalization and Privatization of Public Consumer Protection Law in the United States: Their Effect on Litigation and Enforcement," see 24 Ga. St. U.L. Rev. 663 (2008).
For note discussing transfer fees in home loan assumptions in reference to the Georgia usury laws, see 9 Ga. L. Rev. 454 (1975).
JUDICIAL DECISIONS
CONSTRUCTION. --Ga. L. 1967, p. 659, § 1 et seq. must be strictly construed. Busby v. Sea Island Bank, 151 Ga. App. 412, 260 S.E.2d 485 (1979).
DECISIONS ARE SUI GENERIS. --Decisions under Ga. L. 1967, p. 659, § 1 et seq. are to be treated sui generis. Bell v. Loosier of Albany, Inc., 140 Ga. App. 393, 231 S.E.2d 142 (1976).
GA. L. 1967, P. 659, § 1 ET SEQ. AND GA. L. 1955, P. 431, § 1 ET SEQ. ARE DIFFERENT IN THEIR PURPOSE and effect, and the provisions of one are not controlling in the interpretation of the other. Liberty Loan Corp. v. Childs, 140 Ga. App. 473, 231 S.E.2d 352 (1976), cert. dismissed, 239 Ga. 220, 236 S.E.2d 373 (1977).
DECISIONS UNDER THIS ARTICLE AS EVIDENCE OF INTENT OF CH. 3, T. 7. --Judicial construction of O.C.G.A. Art. 1, Ch. 1, T. 10 is weak evidence of legislative intent in enacting the Georgia Industrial Loan Act, O.C.G.A. § 7-3-1 et seq. Ford v. Termplan, Inc., 528 F. Supp. 1016 (N.D. Ga. 1981).
DECISIONS UNDER §§ 7-3-1 THROUGH 7-3-29 INAPPLICABLE. --Decisions rendered under Ga. L. 1955, p. 431, § 1 are not applicable to Ga. L. 1967, p. 659, § 1 et seq. Bell v. Loosier of Albany, Inc., 140 Ga. App. 393, 231 S.E.2d 142 (1976).
SALES OF MOTOR VEHICLES. --Ga. L. 1967, p. 659, § 1 et seq. does not apply to the sale of a motor vehicle. Holder v. Brock, 129 Ga. App. 732, 200 S.E.2d 912 (1973), overruled on other grounds, Tucker v. Chung Studio of Karate, Inc., 142 Ga. App. 818, 237 S.E.2d 223 (1977).
CONFLICT WITH UCC AS TO SECURITY AGREEMENT. --Parties may contract to create a security interest which will then be governed by provisions of Ga. L. 1962, p. 156, § 1 unless those provisions conflict with the specific terms in Ga. L. 1967, p. 659, § 1 et seq. Brown v. Jenkins, 135 Ga. App. 694, 218 S.E.2d 690 (1975).
ASSIGNEE OR TRANSFEREE OF A RETAIL INSTALLMENT CONTRACT is not given holder in due course status under Ga. L. 1967, p. 659, § 1 et seq. Geiger Fin. Co. v. Graham, 123 Ga. App. 771, 182 S.E.2d 521 (1971), commented on in 8 Ga. St. B.J. 400 (1972).
ASSIGNEE OR TRANSFEREE TAKES CONTRACT SUBJECT TO DEFENSES AGAINST ASSIGNOR. --Under simple contract law, an assignee or transferee takes a retail installment contract subject to any defenses that could be asserted against the assignor. Geiger Fin. Co. v. Graham, 123 Ga. App. 771, 182 S.E.2d 521 (1971), commented on in 8 Ga. St. B.J. 400 (1972).
CITED in Smith v. Singleton, 124 Ga. App. 394, 184 S.E.2d 26 (1971); Pike v. Universal C.I.T. Credit Corp., 125 Ga. App. 83, 186 S.E.2d 482 (1971); Grimes v. Community Loan & Inv. Corp., 130 Ga. App. 8, 202 S.E.2d 265 (1973).
RESEARCH REFERENCES
AM. JUR. 2D. --67 Am. Jur. 2d, Sales, §§ 35, 86, 87.
ALR. --Quantum, degree, or weight of evidence to sustain usury charge, 51 ALR2d 1087.
Scope and exceptions of state deceptive trade practice and consumer protection acts, 85 ALR3d 399.
Coverage of insurance transactions under state consumer protection statutes, 77 ALR4th 991.
What constitutes Truth in Lending Act violation which "was not intentional and resulted from bona fide error not withstanding maintenance of procedures reasonably adapted to avoid any such error" within meaning of § 130(c) of Act (15 USCA § 1640(c)), 153 ALR Fed. 193.
LAW REVIEWS. --For article discussing federal truth-in-lending provisions and their relation to state laws, see 6 Ga. St. B.J. 19 (1969). For article, "Acceleration Clauses in Georgia: Consumer Installment Contracts and the Federal Truth-In-Lending Act," see 27 Mercer L. Rev. 969 (1976). For article discussing methods of computation of finance charges in Georgia consumer credit contracts, see 30 Mercer L. Rev. 281 (1978). For annual survey of commercial law, see 35 Mercer L. Rev. 53 (1983). For article, "The Federalization and Privatization of Public Consumer Protection Law in the United States: Their Effect on Litigation and Enforcement," see 24 Ga. St. U.L. Rev. 663 (2008).
For note discussing transfer fees in home loan assumptions in reference to the Georgia usury laws, see 9 Ga. L. Rev. 454 (1975).
JUDICIAL DECISIONS
CONSTRUCTION. --Ga. L. 1967, p. 659, § 1 et seq. must be strictly construed. Busby v. Sea Island Bank, 151 Ga. App. 412, 260 S.E.2d 485 (1979).
DECISIONS ARE SUI GENERIS. --Decisions under Ga. L. 1967, p. 659, § 1 et seq. are to be treated sui generis. Bell v. Loosier of Albany, Inc., 140 Ga. App. 393, 231 S.E.2d 142 (1976).
GA. L. 1967, P. 659, § 1 ET SEQ. AND GA. L. 1955, P. 431, § 1 ET SEQ. ARE DIFFERENT IN THEIR PURPOSE and effect, and the provisions of one are not controlling in the interpretation of the other. Liberty Loan Corp. v. Childs, 140 Ga. App. 473, 231 S.E.2d 352 (1976), cert. dismissed, 239 Ga. 220, 236 S.E.2d 373 (1977).
DECISIONS UNDER THIS ARTICLE AS EVIDENCE OF INTENT OF CH. 3, T. 7. --Judicial construction of O.C.G.A. Art. 1, Ch. 1, T. 10 is weak evidence of legislative intent in enacting the Georgia Industrial Loan Act, O.C.G.A. § 7-3-1 et seq. Ford v. Termplan, Inc., 528 F. Supp. 1016 (N.D. Ga. 1981).
DECISIONS UNDER §§ 7-3-1 THROUGH 7-3-29 INAPPLICABLE. --Decisions rendered under Ga. L. 1955, p. 431, § 1 are not applicable to Ga. L. 1967, p. 659, § 1 et seq. Bell v. Loosier of Albany, Inc., 140 Ga. App. 393, 231 S.E.2d 142 (1976).
SALES OF MOTOR VEHICLES. --Ga. L. 1967, p. 659, § 1 et seq. does not apply to the sale of a motor vehicle. Holder v. Brock, 129 Ga. App. 732, 200 S.E.2d 912 (1973), overruled on other grounds, Tucker v. Chung Studio of Karate, Inc., 142 Ga. App. 818, 237 S.E.2d 223 (1977).
CONFLICT WITH UCC AS TO SECURITY AGREEMENT. --Parties may contract to create a security interest which will then be governed by provisions of Ga. L. 1962, p. 156, § 1 unless those provisions conflict with the specific terms in Ga. L. 1967, p. 659, § 1 et seq. Brown v. Jenkins, 135 Ga. App. 694, 218 S.E.2d 690 (1975).
ASSIGNEE OR TRANSFEREE OF A RETAIL INSTALLMENT CONTRACT is not given holder in due course status under Ga. L. 1967, p. 659, § 1 et seq. Geiger Fin. Co. v. Graham, 123 Ga. App. 771, 182 S.E.2d 521 (1971), commented on in 8 Ga. St. B.J. 400 (1972).
ASSIGNEE OR TRANSFEREE TAKES CONTRACT SUBJECT TO DEFENSES AGAINST ASSIGNOR. --Under simple contract law, an assignee or transferee takes a retail installment contract subject to any defenses that could be asserted against the assignor. Geiger Fin. Co. v. Graham, 123 Ga. App. 771, 182 S.E.2d 521 (1971), commented on in 8 Ga. St. B.J. 400 (1972).
CITED in Smith v. Singleton, 124 Ga. App. 394, 184 S.E.2d 26 (1971); Pike v. Universal C.I.T. Credit Corp., 125 Ga. App. 83, 186 S.E.2d 482 (1971); Grimes v. Community Loan & Inv. Corp., 130 Ga. App. 8, 202 S.E.2d 265 (1973).
RESEARCH REFERENCES
AM. JUR. 2D. --67 Am. Jur. 2d, Sales, §§ 35, 86, 87.
ALR. --Quantum, degree, or weight of evidence to sustain usury charge, 51 ALR2d 1087.
Scope and exceptions of state deceptive trade practice and consumer protection acts, 85 ALR3d 399.
Coverage of insurance transactions under state consumer protection statutes, 77 ALR4th 991.
What constitutes Truth in Lending Act violation which "was not intentional and resulted from bona fide error not withstanding maintenance of procedures reasonably adapted to avoid any such error" within meaning of § 130(c) of Act (15 USCA § 1640(c)), 153 ALR Fed. 193.