Re: GA statutes (long) - WhyChat input ?
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Posted by LadynRed
(199.91.33.254) on January 28, 2003 at 13:16:20:
In Reply to: SOL defensein GA. posted by Allen on January 28, 2003 at 07:53:41:
Ok. I've done some searching in the GA statutes and NOWHERE can I find anything remotely resembling what this scum CA is referring to regarding credit cards and oral agreements. WhyChat should I be searching for something besides "open accounts", "credit cards" "oral agreements", or "credit" ?? I tried a few other search terms and came up blank. Failing a specific definition in the state statures, does the Federal 'trump' anyway ? Here's what I DID find in the statutes: ----------------------------------------------- 11-9-102. Definitions and index of definitions (2) "Account," except as used in "account for," means a right to payment of a monetary obigation, whether or not earned by performance,....(vii) arising out of the use of a credit or charge card or information contained on or for use with the card (12) The term ["chattel paper"] does not include: B) Records that evidence a right to payment arising out of the use of a credit or charge card or information contained on or vor use with the card. (23) "Consumer debtor" means a debtor in a consumer transaction. (24) "Consumer goods" means goods that are used or bought for use primarily for personal, family, or household purposes. (25) "Consumer goods transaction" means a consumer transaction in which: (A) An individual incurs an obligation primarily for personal, family, or household purposes; and (B) A security interest in consumer goods secures the obligation. (27) "Consumer transaction" means a transaction in which (i) an individual incurs an obligation primarily for personal, family, or household purposes, (ii) a security interest secures the obligation, and (iii) the collateral is held or acquired primarily for personal, family, or household purposes. The term includes consumer goods transactions. (45) "Goods" means all things that are movable when a security interest attaches. (48) "Instrument" means a negotiable instrument or any other writing that evidences a right to the payment of a monetary obligation, is not itself a security agreement or lease, and is of a type that in ordinary course of business is transferred by delivery with any necessary indorsement or assignment. The term does not include (i) investment property, (ii) letters of credit, or (iii) writings that evidence a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card. 7-5-2 G *** CODE SECTION (3) "Credit card" means any type of arrangement or loan agreement pursuant to which a domestic lender or credit card bank gives a debtor the privilege of using a credit card or other credit confirmation or device of any type in transactions out of which debt arises: (A) By the domestic lender or credit card bank honoring a draft or similar order for the payment of money created, authorized, issued, or accepted by the debtor; or (B) By the domestic lender or credit card bank paying or agreeing to pay the debtor's obligation. (4) "Credit card account" means an arrangement between a domestic lender or credit card bank and a debtor for the creation of debt pursuant to a credit card and under which: (A) The domestic lender or credit card bank may permit the debtor to create debt from time to time; (B) The unpaid balance of principal of such debt and the loan, finance, or other appropriate charges are debited to an account; (C) A loan finance charge is computed or an interest rate imposed upon the outstanding balances of the debtor's account from time to time; and (D) The domestic lender or credit card bank is to render bills or statements to the debtor at regular intervals, the amount of which bills or statements is payable by and due from the debtor on a specified date as stated in such bill or statement or, at the option of the debtor, but subject to the terms and conditions of the credit card account, may be paid by the debtor in installments." -------------------------
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