§ 47-11-101 Short Title
§ 47-11-102 Chapter Definitions
§ 47-11-103 Retail Installment Contracts
§ 47-11-104 Retail Charge Agreements
§ 47-11-105 Mail Order and Telephone Sales
§ 47-11-106 Transfer of Contracts
§ 47-11-107 Penalty for Violations — Liquidated Damages
§ 47-11-108 Waiver of Provisions Unenforceable
§ 47-11-110 Transactions Do Not Constitute Loans
§ 47-11-111 Credit Life Insurance Added to Retail Installment Contracts — Authorization Required

Terms Used In Tennessee Code > Title 47 > Chapter 11 - Retail Installment Sales

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • buyer: means a person who buys goods or obtains services from a retail seller in a retail installment transaction and not principally for the purpose of resale. See Tennessee Code 47-11-102
  • Cash sale price: means the price for which the seller would have sold or furnished to the buyer, and the buyer would have bought or obtained from the seller, the goods or services which are the subject matter of the retail installment transaction, if such sale had been a sale for cash. See Tennessee Code 47-11-102
  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • Contract: A legal written agreement that becomes binding when signed.
  • contract: means an instrument or instruments evidencing one (1) or more retail installment transactions entered into in this state pursuant to which a buyer promises to pay in installments for goods or services. See Tennessee Code 47-11-102
  • 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.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • 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.
  • Goods: includes goods which, at the time of the sale or subsequently, are to be so affixed to real property as to become a part thereof, whether or not severable therefrom. See Tennessee Code 47-11-102
  • 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.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Month: means a calendar month. See Tennessee Code 1-3-105
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Official fees: means :

    1. The fees prescribed by law for filing, recording or otherwise perfecting or releasing or satisfying any title or lien retained or taken by seller in connection with a retail installment transaction. See Tennessee Code 47-11-102
    2. Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
    3. Personal property: All property that is not real property.
    4. Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
    5. Plaintiff: The person who files the complaint in a civil lawsuit.
    6. Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
    7. Property: includes both personal and real property. See Tennessee Code 1-3-105
    8. Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
    9. real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
    10. 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
    11. 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
    12. Service of process: The service of writs or summonses to the appropriate party.
    13. Services: means work or labor furnished, whether or not furnished in connection with the delivery, installation, servicing, repair or improvement of goods and includes repairs, alterations or improvements upon or in connection with real property. See Tennessee Code 47-11-102
    14. signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
    15. State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
    16. Statute: A law passed by a legislature.
    17. Time price differential: means the amount, however denominated or expressed, which the retail buyer contracts to pay or pays for the privilege of purchasing goods or services to be paid for by the buyer in installments. See Tennessee Code 47-11-102
    18. Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
    19. transaction: means a contract to sell or furnish or the sale of or the furnishing of goods or services by a retail seller to a retail buyer pursuant to a retail installment contract or a retail charge agreement. See Tennessee Code 47-11-102
    20. Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
    21. United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
    22. Venue: The geographical location in which a case is tried.
    23. written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
    24. Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105