§ 710 Definitions
§ 711 Transfer of Credit Balances Prohibited
§ 712 Mailing of Statements of Credit Account Balances
§ 713 Required Notice in Credit Account Statements; Refund of Balances
§ 714 Automatic Refund of Credit Balances
§ 715 Disposition of Unclaimed Credit Balances
§ 716 Violations and Penalties

Terms Used In New York Laws > General Business > Article 34-A

  • Allegation: something that someone says happened.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Consumer: means a natural person. See N.Y. General Business Law 710
  • Consumer credit: means credit extended to a consumer on an account pursuant to a plan under which the creditor may permit the customer to make purchases or obtain loans, from time to time, directly from the creditor or indirectly by use of a credit card, check, or other device, as the plan may provide. See N.Y. General Business Law 710
  • Contemplation of death: The expectation of death that provides the primary motive to make a gift.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Credit balance: means any money or credit owed to, or held for the benefit of, a consumer by a creditor on a consumer credit account, whether resulting from an overpayment or return of merchandise by the consumer, or otherwise. See N.Y. General Business Law 710
  • Creditor: means a person, partnership, corporation, association or other entity who, in the ordinary course of business, regularly extends consumer credit. See N.Y. General Business Law 710
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
  • Venue: The geographical location in which a case is tried.