Tennessee Code 47-11-106 – Transfer of contracts
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Tennessee Code 47-11-106
- 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.
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Retail charge agreement: means an instrument or instruments prescribing the terms of retail installment transactions which may be made thereafter from time to time pursuant thereto, under which the buyer's total unpaid balance, whenever incurred, is payable in installments over a period of time and under the terms of which a time price differential, as defined in subdivision (10), is to be computed in relation to the buyer's unpaid balance from time to time. See Tennessee Code 47-11-102
- seller: means a person regularly engaged in, and whose business consists to a substantial extent of, selling goods to a retail buyer. See Tennessee Code 47-11-102
Any retail seller may assign, pledge, hypothecate, or otherwise transfer a retail installment contract or retail charge agreement to any person, firm, or corporation on such terms and conditions and for such price as may be mutually agreed upon.