The holder of a promissory note or instrument, or other evidence of indebtedness of a consumer delivered in connection with a contract shall take or hold that note, instrument, or evidence subject to all defenses of such consumer that would be available to the consumer in an action on a simple contract, and all rights available to him or her under this chapter.
Source notesHistory and annotations
(Added 1967, No. 132, § 1, eff. April 17, 1967; amended 1969, No. 45, § 2, eff. April 4, 1969.)
