§ 862. Recision and other penalties. If a merchant fails to comply with the disclosure provisions of section eight hundred fifty-seven of this article, the transferee may rescind the transaction. In addition, where the merchant has made knowingly false statements to a transferee, the transferee may recover actual damages, if any, and a penalty in the sum of two hundred fifty dollars. The remedies provided in this section are in addition to other remedies available by law.

Terms Used In N.Y. General Business Law 862

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
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