1. The actual or purported transfer or assignment of any right or interest in a motor vehicle or under a lease contract, retail installment contract, or security agreement, by an individual who is a party to the original lease contract, retail installment contract, or security contract is not an act of auto equity promotion under this article.

Terms Used In N.Y. General Business Law 892

  • Contract: A legal written agreement that becomes binding when signed.
  • 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

2. This article shall not affect the enforceability of any provision of any lease contract, retail installment contract, or security agreement, by any party thereto.