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Subdivision 1.Scope.
As used in this section and section 325G.16, the following terms shall have the meanings assigned to them.
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Subd. 2.Consumer credit sale.
"Consumer credit sale" means a sale of goods or services in which:
(a) credit is granted by a seller who regularly engages as a seller in credit transactions of the same kind;
(b) the buyer is a natural person; and
(c) the goods or services are purchased primarily for a personal, family or household purpose, and not for commercial, agricultural, or business purpose.
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Subd. 3.Goods.
"Goods" means all tangible personal chattels, but not including 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 time of sale or subsequently, in the modernization, rehabilitation, repair, alteration, improvement or construction of real property so 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, in exchange for goods or services sold by such seller.
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Subd. 4.Services.
"Services" means work, labor, or services of any kind.
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Subd. 5.Sale of goods.
"Sale of goods" includes, without limitation, any agreement in the form of a bailment or lease of goods if the bailee or lessee agrees to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the goods involved and it is agreed that the bailee or lessee will become, or for no other or a nominal consideration has the option to become, the owner of the goods upon full compliance with the bailee's or lessee's obligations under the agreement. The term also includes a contract in the form of a terminable bailment or lease of goods if: (a) the bailee or lessee has the option to renew the contract by making the payments specified in the contract; (b) the contract obligates the bailor or lessor to transfer ownership of the property to the bailee or lessee for no other or a nominal consideration upon full compliance by the bailee or lessee with the bailee's or lessee's obligations under the contract including any obligation incurred by reason of the exercise of an option by the bailee or lessee to renew the contract; and (c) the payments contracted for by the bailee or lessee, including those payments pursuant to the exercise of an option by the bailee or lessee to renew the contract, are substantially equivalent to or in excess of the aggregate value of the property and services involved.
Notes of Decisions
Miller v. Colortyme, Inc., 518 N.W.2d 544 (Minn. 1994).
· cites it 32× “We are asked to decide whether “rent-to-own” transactions (also known as “rental-purchase” transactions) are consumer credit sales under the Consumer Credit Sales Act, Minn.Stat. §§ 325G.15 and 325G.16 (1992), and if they are consumer credit sales, whether they are subject to…”
Fogie v. Rent-A-Ctr., Inc., 867 F. Supp. 1398 (D. Minnesota 1993).
· cites it 18× “(collectively RAC) alleging that RAC’s rent to own contracts are consumer credit sales within the meaning of the Consumer Credit Sales Act (CCSA), Minn.Stat. § 325G.15, and violate the Minnesota deceptive and unlawful trade practices statutes, Minn.”
In Re DEF Investments, Inc., 186 B.R. 671 (Bankr. D. Minn. 1995).
· cites it 4× “On or about August 3, 1992, the Plaintiffs filed a motion for partial summary judgment and sought a determination that the subject contracts were by operation of law consumer credit sales within the meaning of Minn.Stat. § 325G.15, rather than lease agreements, and therefore…”
Fogie v. Thorn Americas, Inc., 95 F.3d 645 (8th Cir. 1996).
· cites it 2× “Minn.Stat. 325G.15 subd. 2. Any lease that constitutes a consumer credit sale under the CCSA is deemed a sale for all purposes.”
Miller v. Colortyme, Inc., 504 N.W.2d 258 (Minn. Ct. App. 1993).
· cites it 11× “On November 30, 1992, the district court filed an order declaring contracts entered by “Class One” 2 as “consumer credit sales *260 for all purposes within the meaning of Minn.Stat. §§ 325G.15 and 325G.16.” The court also granted summary judgment for respondents on the usury…”
ADT Sec. Servs., Inc. v. Swenson, 276 F.R.D. 278 (D. Minnesota 2011).
· cites it 2× “1994) (applying the Consumer Credit Sales Act to a rent-to-own transaction); Minn.Stat. § 325G.15 subd. 2 (defining “consumer credit sale”).”
Silva v. Rent-A-Ctr., Inc., 454 Mass. 667 (Mass. 2009).
· cites it 2× “In Minnesota, the Legislature amended the Minnesota Consumer Credit Sales Act, Minn. Stat. § 325G.15, subd. 5 (West 2004), to include rent-to-own transactions by defining the term “[s]ale of goods” to include “a contract in the form of a terminable bailment or lease of goods.”
Starks v. Rent-a-Ctr., 58 F.3d 358 (8th Cir. 1995).
· cites it 3× “Minnesota Consumer Credit Sales Minnesota’s Consumer Credit Sales provisions, Minn.Stat. § 325G.15 and § 325G.16, apply only to consumer credit sales as defined by the statute, and thus apply to the Rent-A-Center agreements only if they meet the definition of a consumer credit…”
Fogie v. Rent-A-Ctr., Inc., 518 N.W.2d 544 (Minn. 1994).
· cites it 2× “061 (1992): (1) Are rent-to-own contracts consumer credit sales under Minn.Stat. § 325G.15 (1992)? (2) Does the usury statute, Minn.”
Vickie Fogie v. Thorn Americas, 95 F.3d 645 (8th Cir. 1996).
· cites it 3× “03; and the federal Racketeer Influenced and Corrupt Organization statute (RICO), 18 U.S.C. § 1961 .”
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