Iowa Code 537.3309 – Referral sales and leases
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Terms Used In Iowa Code 537.3309
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
537.3309 Referral sales and leases.
A practice unlawful under section 714.16, subsection 2, paragraph “”b””, if done in
connection with a consumer credit sale or consumer lease, is a violation of this chapter
for which the consumer has a cause of action under § 537.5201, subsection 1. The administrator has all powers granted under article 6, part 1, to enforce the provisions of § 714.16, subsection 2, paragraph “”b””. If a consumer is induced by a violation of section
714.16, subsection 2, paragraph “”b”” to enter into a consumer credit sale or consumer lease, the agreement is unenforceable by the seller or lessor and the consumer, at the consumer’s option, in addition to other remedies, may rescind the agreement or retain the goods delivered and the benefit of any services performed, without any obligation to pay for them.
[C75, 77, 79, 81, §537.3309]
Referred to in §537.5201
A practice unlawful under section 714.16, subsection 2, paragraph “”b””, if done in
connection with a consumer credit sale or consumer lease, is a violation of this chapter
for which the consumer has a cause of action under § 537.5201, subsection 1. The administrator has all powers granted under article 6, part 1, to enforce the provisions of § 714.16, subsection 2, paragraph “”b””. If a consumer is induced by a violation of section
714.16, subsection 2, paragraph “”b”” to enter into a consumer credit sale or consumer lease, the agreement is unenforceable by the seller or lessor and the consumer, at the consumer’s option, in addition to other remedies, may rescind the agreement or retain the goods delivered and the benefit of any services performed, without any obligation to pay for them.
[C75, 77, 79, 81, §537.3309]
Referred to in §537.5201