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This entry was published on 2014-09-22
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Restoration of down payment
Personal Property (PEP) CHAPTER 41, ARTICLE 10-B
§ 444. Restoration of down payment. 1. Within thirty days after a
telephone sale has been cancelled, the seller shall recredit the buyer's
charge account.

2. If the down payment includes goods traded in, the goods shall be
tendered in substantially as good condition as when received by the
seller. If the seller fails to tender the goods as provided by this
section, the buyer may elect to recover an amount equal to the trade-in
allowance stated in the agreement.

3. If the seller refuses within the period prescribed by subdivision
one of this section to return all payments made by the buyer, he shall
be liable to the buyer for the said payments and if the buyer is
successful in his action therefor or appeal thereon, the court shall
award him one hundred dollars and may award reasonable attorney's fees
and costs, in addition to such payments. In addition to such an action,
such payments and the one hundred dollar amount may be recovered from
any telemarketer maintaining a bond pursuant to subdivision four of
section three hundred ninety-nine-pp of the general business law, or the
surety or bank, trust company, savings bank or savings and loan
association in an action on the bond. Nothing in the preceding sentence
shall authorize the awarding of attorney's fees and costs against the
surety, bank, trust company or savings and loan association.

4. Until the seller has complied with this section, the buyer may
retain possession of goods delivered to him by the seller and shall have
a lien on the goods in his possession or control for any recovery to
which he may be entitled.