Ky. Rev. Stat. » Chapter 371
Kentucky Revised Statutes

Ky. Rev. Stat. § 371.210 (2026)

Definitions for KRS 371.210 to 371.330

✓ current as of May 2026
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As used in KRS 371.210 to 371.330, unless the context otherwise requires:

(1) "Goods" means all tangible chattels personal when purchased primarily for personal, family or household use and not for commercial, industrial or agricultural use, but not including motor vehicles as herein defined, money, things in action or intangible personal property other than merchandise certificates or coupons as herein described. The term includes such chattels which are furnished or used, at the sale of or subsequently, in the modernization, rehabilitation, repair, alteration, improvement or construction of real property as to become a part thereof whether or not severable therefrom. The term also includes merchandise certificates or coupons, issued by a retail seller, not redeemable in cash and to be used in their face amount in lieu of cash.

(2) "Services" means work, labor or services of any kind when purchased primarily for personal, family or household use and not for commercial or business use, but not including services for which the prices charged are required by law to be determined or approved by or to be filed, subject to approval or disapproval, with the United States or any state, or any department, division, agency, officer or official of either as in the case of transportation services.

(3) "Motor vehicle" means any automobile, mobile home, recreational vehicle, motorcycle, truck trailer, semitrailer, truck tractor and bus designed and used primarily to transport persons or property on a public highway, or any vehicle designed to run only on rails or tracks or in the air, excepting however, any boat trailer and any vehicle propelled or drawn exclusively by muscular power.

(4) "Retail buyer" or "buyer" means a person who buys or agrees to buy goods or obtain services or agrees to have services rendered or furnished, from a retail seller.

(5) "Retail seller" or "seller" means a person regularly and principally engaged in the business of selling goods to retail buyers.

(6) "Retail installment transaction" means any transaction in which a retail buyer purchases goods or services from a retail seller pursuant to a retail installment contract or a retail charge agreement, as defined in this section, which provides for a time price differential, as defined in this section, and under which the buyer agrees to pay the unpaid balance in one (1) or more installments.

(7) "Retail installment contract" means an instrument, other than a retail charge agreement or an instrument reflecting a sale made pursuant thereto, entered into in this state evidencing a retail installment transaction. The term "retail installment contract" may include a chattel mortgage, a security agreement, a conditional sale contract and a contract in the form of a bailment or a lease if the bailee or lessee contracts to pay as compensation for their use a sum substantially equivalent to or in excess of the value of the goods sold and if it is agreed that the bailee or lessee is bound to become, or for no other or a merely nominal consideration, has the option of becoming the owner of the goods upon full compliance with the provisions of the bailment or lease.

(8) "Retail charge agreement" means an instrument prescribing the terms of retail installment transactions which may be made thereunder from time to time and under the terms of which a time price differential, as defined in this section, is to be computed in relation to the buyer's unpaid balance from time to time.

(9) "Time price differential" however denominated or expressed, means the amount which is paid or payable for the privilege of purchasing goods or services to be paid for by the buyer in installments over a period of time. It does not include the amount, if any, charged for insurance premiums, delinquency charges, attorneys fees, court costs, or official fees.

(10) "Cash sale price" means the price stated in a retail installment contract or in a sales slip or other memorandum furnished by a retail seller to a retail buyer under or in connection with a retail charge agreement, for which the seller would have sold or furnished to the buyer and the buyer would have bought or obtained from the seller the goods or services which are the subject matter of a retail installment transaction, if the sale had been a sale for cash. The cash sale price may include any taxes and charges for delivery, installation, servicing, repairs, alterations or improvements.

(11) "Official fees" means the amount of the fees prescribed by law for filing, recording or otherwise perfecting, and releasing or satisfying, a retained title, lien or other security interest created by a retail installment transaction.

(12) "Time sale price" means the total of the cash sale price of the goods or services and the amount, if any, included for insurance, if a separate identified charge is made therefor, and the official fees and the time price differential.

(13) "Principal balance" means the cash sale price of the goods or services which are the subject matter of a retail installment contract plus the amounts, if any, included therein, if a separate identified charge is made therefor and stated in the contract, for insurance and official fees, less the amount of the buyer's down payment in money or goods or both.

(14) "Holder" means the retail seller of the goods or services under the retail installment contract or retail charge agreement or the assignee if the retail installment contract or the retail charge agreement or any indebtedness under either has been sold or otherwise transferred.

(15) "Person" means an individual, partnership, joint venture, corporation, association or any other group, however organized.

(16) Words of the masculine gender include the feminine and the neuter and, when the sense so indicates, words of the neuter gender may refer to any gender. Effective: July 15, 1982 History: Amended 1982 Ky. Acts ch. 395, sec. 23, effective July 15, 1982. -- Created 1962 Ky. Acts ch. 136, sec. 1.

Notes of Decisions
Cited in 9 cases (2 in the last 5 years), 1968–2024 · leading case: Barnes v. Cmty. Trust Bank, 121 S.W.3d 520 (Ky. Ct. App. 2003).
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Barnes v. Cmty. Trust Bank, 121 S.W.3d 520 (Ky. Ct. App. 2003). · cites it 3× “In support of its argument, Community Trust refers to the definition of goods contained in KRS 371.210, which provides: As used in KRS 371.”
Serv. Fin. Co. v. Ware, 473 S.W.3d 98 (Ky. Ct. App. 2015). · cites it 2× “KRS 371.210(12) (emphasis added). And “time price differential” is also defined by this statute.”
Grace v. LVNV Funding, Inc., 22 F. Supp. 3d 700 (W.D. Ky. 2014). · cites it 3× “KRS § 371.210 et seq. governs retail installment transactions.”
Credit All. Corp. v. Adams Constr. Corp., 570 S.W.2d 283 (Ky. 1978). · cites it 2× “See KRS 371.210. A loan on commercial motor vehicles is completely outside any possible reach of KRS 371.”
Mammoth Cave Prod. Credit Ass'n v. York, 429 S.W.2d 26 (Ky. Ct. App. 1968). “This would put such a concept in line with cash sales price as defined in the Kentucky law on retail installment sales contracts, KRS 371.210(10). This seems to be the only situation where exactly what the purchase price was would be in serious question.”
In Re Oszajca, 207 B.R. 41 (2d Cir. BAP 1997). “See Ky.Rev.Stat.Ann. § 371.210(8) (Banks-Baldwin 1997); Tenn.”
Adams v. Commonwealth, 275 S.W.3d 209 (Ky. Ct. App. 2008). “860(3) (Consumer Protection); and KRS 371.210(3) (Formality and Assignability of Contracts; Installment Sales Contracts).”
Kentuckiana Fin., LLC v. Jaydan Tre Sean Pitts (Ky. Ct. App. 2024). · cites it 2× “KRS 371.210(12). However, for the financing of automobiles, KRS 190.”
David Partida v. Instant Auto Credit, Inc. (Ky. Ct. App. 2023). “3d at 105 (quoting KRS 371.210(12)). The contract denominated Ware’s time price differential as a “finance charge,” and the contract determined the finance charge by applying an “annual percentage rate” of fifteen percent.”
— Ky. Rev. Stat. § 371.210(10) — 1 case
Mammoth Cave Prod. Credit Ass'n v. York, 429 S.W.2d 26 (Ky. Ct. App. 1968). “This would put such a concept in line with cash sales price as defined in the Kentucky law on retail installment sales contracts, KRS 371.210(10). This seems to be the only situation where exactly what the purchase price was would be in serious question.”
— Ky. Rev. Stat. § 371.210(12) — 3 cases
Serv. Fin. Co. v. Ware, 473 S.W.3d 98 (Ky. Ct. App. 2015). “KRS 371.210(12) (emphasis added). And “time price differential” is also defined by this statute.”
David Partida v. Instant Auto Credit, Inc. (Ky. Ct. App. 2023). “3d at 105 (quoting KRS 371.210(12)). The contract denominated Ware’s time price differential as a “finance charge,” and the contract determined the finance charge by applying an “annual percentage rate” of fifteen percent.”
Kentuckiana Fin., LLC v. Jaydan Tre Sean Pitts (Ky. Ct. App. 2024). “KRS 371.210(12). However, for the financing of automobiles, KRS 190.”
— Ky. Rev. Stat. § 371.210(3) — 1 case
Adams v. Commonwealth, 275 S.W.3d 209 (Ky. Ct. App. 2008). “860(3) (Consumer Protection); and KRS 371.210(3) (Formality and Assignability of Contracts; Installment Sales Contracts).”
— Ky. Rev. Stat. § 371.210(8) — 1 case
In Re Oszajca, 207 B.R. 41 (2d Cir. BAP 1997). “See Ky.Rev.Stat.Ann. § 371.210(8) (Banks-Baldwin 1997); Tenn.”
— Ky. Rev. Stat. § 371.210(9) — 2 cases
Serv. Fin. Co. v. Ware, 473 S.W.3d 98 (Ky. Ct. App. 2015). “KRS 371.210(12) (emphasis added). And “time price differential” is also defined by this statute.”
Kentuckiana Fin., LLC v. Jaydan Tre Sean Pitts (Ky. Ct. App. 2024). “KRS 371.210(12). However, for the financing of automobiles, KRS 190.”
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