Section 55 Consumer Goods Transactions

• Library: Motor Vehicle 2011

Section 400.9-625(c)(2), RSMo Supp. 2010, provides, for a debtor in a consumer goods transaction, a minimum statutory damage recovery of “an amount not less than the credit service charge plus ten percent of the principal amount of
the obligation or the time-price differential plus ten percent
of the cash price.” This section is patterned on former
§ 400.9-507(1), RSMo 2000, and is designed to ensure that every noncompliance with the requirements of part 6, §§ 400.9-601–400.9-628, RSMo Supp. 2010, of...