No person engaged in the business of buying credit sale contracts from motor vehicle dealers in this State, and no officer, agent, or representative of such person, shall purchase or attempt to purchase any such credit sale contract from any motor vehicle dealer in this State:

(1) When the dealer in consequence of any contract, agreement, or arrangement between such person and a manufacturer or distributor supplying motor vehicles to the dealer has been induced or coerced to sell such credit sale contract by means of any statement, suggestion, promise, or threat, made, directly or indirectly, that the manufacturer or distributor supplying motor vehicles to the dealer would in any manner injure or benefit the dealer, or by means of any act of the manufacturer or distributor that has benefited or injured the dealer, or by means of any statement or representation, made, directly or indirectly, that the dealer is under any obligation whatsoever to make such sale;

Terms Used In Hawaii Revised Statutes 437-34

  • Business: includes any activities regularly engaged in by any person or regularly caused to be engaged in by the person for the object of gain, benefit, or advantage, either direct or indirect. See Hawaii Revised Statutes 437-1.1
  • Contract: A legal written agreement that becomes binding when signed.
  • Dealer: includes "auction" as defined in this section or any person or entity not expressly excluded by this chapter who sells three or more vehicles within a calendar year, or who is engaged in the business of selling, soliciting, offering, or attempting to negotiate sales, purchases, or exchanges of motor vehicles or any interest therein, including options to purchase motor vehicles. See Hawaii Revised Statutes 437-1.1
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) When such person has received or has contracted to receive from any manufacturer or distributor supplying motor vehicles to the dealer, or has given or contracted to give to the manufacturer or distributor, any subsidy or thing of service or value, where the effect of the giving or receiving of such subsidy or thing of service or value may be to lessen or eliminate competition in the business of purchasing credit sale contracts from motor vehicle dealers or tend to grant an unfair trade advantage or to create a monopoly in such person.

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