(a) Any breach by a credit services business of a contract under this part, or of any obligation arising under it, constitutes a violation of this part.
contract signature

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Terms Used In Tennessee Code 47-18-1007

  • Consumer: means any individual who is solicited to purchase or who purchases the services of a credit services business. See Tennessee Code 47-18-1002
  • Contract: A legal written agreement that becomes binding when signed.
  • Credit services business: means any person who, with respect to the extension of credit by others, sells, provides, or performs, or represents that such person can or will sell, provide, or perform any of the following services in return for the payment of money or other valuable consideration:
    (i) Improving a consumer's credit record, history, or rating. See Tennessee Code 47-18-1002
  • 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.
  • Person: includes an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, two (2) or more persons having a joint or common interest, and any other legal or commercial entity. See Tennessee Code 47-18-1002
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) Any contract for services from a credit services business that does not comply with the applicable provisions of this part shall be void and unenforceable as contrary to the public policy of this state.
(c) Any waiver by a consumer of any of the provisions of this part shall be deemed void and unenforceable by a credit services business as contrary to public policy of this state, and any attempt by a credit services business to have a consumer waive rights given by this part constitutes a violation of this part.
(d) In any proceeding involving this part, the burden of proving an exemption or an exception from the definition is upon the person claiming it.
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