MARVIN MANDEL, Governor

473

PURCHASING THE GOODS UNDER AN INSTALLMENT SALE AGREEMENT.

REVISOR'S NOTE: This subsection presently appears as
Art. 83, §152(m).

The only changes are in style.

(J) GOODS.

"GOODS" MEANS ALL TANGIBLE PERSONAL PROPERTY WHICH
HAVE A CASH PRICE OF $5,000 OR LESS, BUT DOES NOT INCLUDE
MONEY OR THINGS IN ACTION.

REVISOR'S NOTE: This subsection presently appears as
Art. 83, §152(a).

The only changes are in style.

(K) HOLDER.

"HOLDER" MEANS A PERSON, INCLUDING A SELLER AND A
SALES FINANCE COMPANY, ENTITLED TO ENFORCE AN AGREEMENT
AGAINST A BUYER.

REVISOR'S NOTE: This subsection presently appears as
Art. 83, §152(i).

An express reference to "a seller and a sales
finance company" is added for purposes of
clarity and emphasis, and without intent to
limit the scope of the definition, which, for
example, would include a banking institution
entitled to enforce the agreement.

The only other changes are in style.

(L) INSTALLMENT SALE AGREEMENT.

(1)    "INSTALLMENT SALE AGREEMENT" MEANS A
CONTRACT FOR THE RETAIL SALE OF GOODS, NEGOTIATED OR
ENTERED INTO IN THE STATE, UNDER WHICH:

(i) PART OR ALL OF THE PRICE IS PAYABLE IN
ONE OR MORE PAYMENTS SUBSEQUENT TO THE MAKING OF THE
CONTRACT; AND

(ii) THE SELLER TAKES COLLATERAL SECURITY OR
RETAINS A SECURITY INTEREST IN THE GOODS SOLD.

(2)   "INSTALLMENT SALE AGREEMENT" INCLUDES:
(i) A PROSPECTIVE INSTALLMENT SALE AGREEMENT;

(ii) A CONDITIONAL SALE CONTRACT, PURCHASE