The holder of a promissory note or instrument, or other evidence of indebtedness of
a consumer delivered in connection with a contract shall take or hold that note, instrument,
or evidence subject to all defenses of such consumer that would be available to the
consumer in an action on a simple contract, and all rights available to him or her
under this chapter. (Added 1967, No. 132, § 1, eff. April 17, 1967; amended 1969, No. 45, § 2, eff. April 4, 1969.)
Randolph Nat'l Bank v. Vail, 308 A.2d 588 (Vt. 1973). · cites it 12דIn this regard, the legislature sought in part to protect the public against the problems connected with the financing of consumer transactions and enacted 9 V.S.A. § 2455, which provides: "The holder of a promissory note or instrument or other evidence of indebtedness of a…”
Gramatan Home Investors Corp. v. Starling, 470 A.2d 1157 (Vt. 1983). · cites it 2ד§ 3 — 305, as purchasers of consumer paper executed in connection with a consumer contract they hold defendants’ promissory notes “subject to all defenses .”
GMAC v. LBT Assocs. (Vt. Super. Ct. 2010). “Under 9 V.S.A. § 2455, “[t]he holder of a promissory note or instrument or other evidence of indebtedness of a consumer delivered in connection with a contract shall take or hold that note, instrument or evidence subject to all defenses of such consumer which would be available…”
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