Legislation
SECTION 862
Recision and other penalties
General Business (GBS) CHAPTER 20, ARTICLE 39-A
§ 862. Recision and other penalties. If a merchant fails to comply
with the disclosure provisions of section eight hundred fifty-seven of
this article, the transferee may rescind the transaction. In addition,
where the merchant has made knowingly false statements to a transferee,
the transferee may recover actual damages, if any, and a penalty in the
sum of two hundred fifty dollars. The remedies provided in this section
are in addition to other remedies available by law.
with the disclosure provisions of section eight hundred fifty-seven of
this article, the transferee may rescind the transaction. In addition,
where the merchant has made knowingly false statements to a transferee,
the transferee may recover actual damages, if any, and a penalty in the
sum of two hundred fifty dollars. The remedies provided in this section
are in addition to other remedies available by law.