Backdating contracts verbal contracts and contract splitting are considered

Posted by / 08-May-2018 04:05

Backdating contracts verbal contracts and contract splitting are considered

The VTCA sets forth several requirements, including registration and bonding by the sellers, a disclosure statement in the contract identifying the purchaser's statutory rights of cancellation, services and financial obligations, escrow of purchase money, and prohibitions against misleading statements..

The Virginia Travel Club Act (VTCA) applies to for-profit entities that charge an advance fee or annual charge of more than 0 for the privilege of arranging or obtaining future travel services.

These disclosures must be provided to the purchaser at the time the agreement is executed.

Also, the VTCA sets forth the specific terms of the purchaser's right to cancel within seven calendar days from the date of execution of the contract. Private parties and government authorities and are authorized to enforce these requirements. The statute prohibits tampering with the odometer, removing or altering the required notice of adjusted mileage from the left door frame, and violating the disclosure requirements when transferring the motor vehicle.. These disclosures must be stated on the face of the contract above the line for the consumer's signature. The VLPAA requires specific disclosures before the lease-purchase agreement is executed.

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The United States Attorney may bring a civil action to enjoin the offense, to collect civil treble damages where intent to defraud exists, and to collect any penalty awarded by the Secretary of Transportation. If the fraud claim not met the federal diversity jurisdiction amount, the court noted in dicta that the plaintiff could not have aggregated her state claims to meet the MMWAs amount in controversy..

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