Maine Revised Statutes Title 9-A Sec. 9-401 – Misrepresentation
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Terms Used In Maine Revised Statutes Title 9-A Sec. 9-401
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
A creditor or a person acting for him may not induce a consumer to enter into a consumer credit transaction by misrepresentation of a material fact with respect to the terms and conditions of the extension of credit. A consumer so induced may rescind the sale, lease or loan or recover actual damages, or both. [PL 1987, c. 396, §12 (NEW).]
SECTION HISTORY
PL 1987, c. 396, §12 (NEW).