Rhode Island General Laws 6-13.1-17. Contracts – Provision to sell real estate
Current as of: 2023 | Check for updates
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It is unlawful for any person, firm, partnership, corporation, or association to provide in any contract for the purchase of consumer goods or documents related to them a provision allowing the seller the power to sell or attach real estate for default without first obtaining an order by a court exercising proper jurisdiction of the subject matter.
History of Section.
P.L. 1982, ch. 280, § 1; P.L. 2014, ch. 528, § 10.
Terms Used In Rhode Island General Laws 6-13.1-17
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means natural persons, corporations, trusts, partnerships, incorporated or unincorporated associations, and any other legal entity. See Rhode Island General Laws 6-13.1-1
- real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10