N.C. Gen. Stat. » Chapter 25A

N.C. Gen. Stat. § 25A-25

Preservation of consumers' claims and defenses

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(a) In a consumer credit sale, a buyer may assert against the seller, assignee of the seller, or other holder of the instrument or instruments of indebtedness, any claims or defenses available against the original seller, and the buyer may not waive the right to assert these claims or defenses in connection with a consumer credit sales transaction. Affirmative recovery by the buyer on a claim asserted against an assignee of the seller or other holder of the instrument of indebtedness shall not exceed amounts paid by the buyer under the contract.

(b) Every consumer credit sale contract shall contain the following provision in at least ten-point boldface type:

NOTICE

 

ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER.

(c) Compliance with the requirements of the Federal Trade Commission rule on preservation of consumer claims and defenses is considered full compliance with this act. (1971, c. 796, s. 1; 1977, c. 921.)

 

Notes of Decisions
Cited in 6 cases, 1976–2018 · leading case: State Ex Rel. Easley v. Rich Food Services, Inc.
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State Ex Rel. Easley v. Rich Food Services, Inc. (2000) ncctapp · cites it 14× “As we will discuss more fully below, the State contends that the defendant finance companies are subject under the provisions of N.C. Gen. Stat. § 25A-25 to the same claims and defenses which can be asserted against Rich Food.”
Ford Motor Credit Co. LLC v. McBride (2018) ncctapp · cites it 8× “N.C. Gen. Stat. § 25A-25 provides as follows: (a) In a consumer credit sale, a buyer may assert against the seller, assignee of the seller, or other holder of the instrument or instruments of indebtedness, any claims or defenses available against the original seller, and the…”
Capparelli v. AmeriFirst Home Improvement Finance Co. (2008) nced · cites it 2× “” N.C. Gen.Stat. § 25A-25; see Compl. ¶ 91; Pis.”
ITT-Industrial Credit Co. v. Milo Concrete Co. (1976) ncctapp “” We note first that the General Assembly has enacted Chapter 25A, entitled Retail Installment Sales Act, in which G.S. 25A-25 alters the rule as to waiver of defenses against an assignee of a contract in all consumer credit sales.”
Commercial Credit Equipment Corp. v. Thompson (1980) ncctapp · cites it 2× “— (a) In a consumer credit sale, a buyer may assert against the seller, assignee of the seller, or other holder of the instrument or instruments of indebtedness, any claims or defenses available against the original seller, and the buyer may not waive the right to assert these…”
General Electric Credit Corp. of Georgia, Inc. v. Ball (1979) ncctapp · cites it 8× “The provisions of G.S. § 25A-25(b) in effect when the transactions giving rise to this case occurred, are as follows: *590 (b) In a consumer credit sale, a buyer may assert against the seller, assignee of the seller, or other holder of the instrument or instruments of…”
— N.C. Gen. Stat. § 25A-25(a) — 2 cases
Ford Motor Credit Co. LLC v. McBride (2018) ncctapp “N.C. Gen. Stat. § 25A-25 provides as follows: (a) In a consumer credit sale, a buyer may assert against the seller, assignee of the seller, or other holder of the instrument or instruments of indebtedness, any claims or defenses available against the original seller, and the…”
Commercial Credit Equipment Corp. v. Thompson (1980) ncctapp “— (a) In a consumer credit sale, a buyer may assert against the seller, assignee of the seller, or other holder of the instrument or instruments of indebtedness, any claims or defenses available against the original seller, and the buyer may not waive the right to assert these…”
— N.C. Gen. Stat. § 25A-25(b) — 1 case
General Electric Credit Corp. of Georgia, Inc. v. Ball (1979) ncctapp “The provisions of G.S. § 25A-25(b) in effect when the transactions giving rise to this case occurred, are as follows: *590 (b) In a consumer credit sale, a buyer may assert against the seller, assignee of the seller, or other holder of the instrument or instruments of…”
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