New Hampshire Revised Statutes 361-C:1 – Definitions
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In this chapter, “retail installment contract or evidence of indebtedness” means any contract or evidence of indebtedness arising out of:
I. A retail installment sale in which the goods purchased are used primarily for personal, household or family purposes; or
II. A loan or extension of credit payable in installments, or for which a finance charge is or may be imposed, in which the proceeds of the loan or extension of credit are used primarily for personal, household or family purposes.
I. A retail installment sale in which the goods purchased are used primarily for personal, household or family purposes; or
Terms Used In New Hampshire Revised Statutes 361-C:1
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
II. A loan or extension of credit payable in installments, or for which a finance charge is or may be imposed, in which the proceeds of the loan or extension of credit are used primarily for personal, household or family purposes.