Re: Asset Acceptance - Suing
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Posted by LadynRed
(68.32.101.73) on January 26, 2004 at 19:19:10:
In Reply to: Re: Asset Acceptance - Suing posted by Parry on January 26, 2004 at 18:31:02:
Truth in Lending Act defines credit cards as open-ended - not written. Are you saying WA statutes are refuting the FEDERAL Law ? I took this off of WhyChat's page for WA Statutes regarding credit cards: "------------------------------------------------------ EXEMPTION FOR CREDIT CARDS TO "WRITTEN CONTRACTS" RCW 19.36.120 Exempt agreements. RCW 19.36.100 through 19.36.140 and 19.36.900 shall not apply to: (1) A promise, agreement, undertaking, document, or commitment relating to a credit card or charge card; or (2) a loan of money or extension of credit to a natural person that is primarily for personal, family, or household purposes and not primarily for investment, business, agricultural, or commercial purposes. ----------------------------------------------------- DEFINITION OF CREDIT CARD AS "AGREEMENT" NOT CONTRACT RCW 62A.9A-102 Definitions and index of definitions. (a) Article 9A definitions. In this Article: (2)(A) "Account," except as used in "account for," means a right to payment of a monetary obligation, 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, (47) "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 (C) 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," __________________________ AND the name of a Lawyer - on bottom of this page: http://community-2.webtv.net/Y-Chat/WhyChatsCredit/page47.html
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