DCP: Layaway

Layaway

 

A "layaway plan" means a plan by which a retailer offers goods for sale to the public on terms which allow for periodic payment for the items, and for which delivery is deferred until the seller recieves payment in full.  When you use a layaway plan, you pay in installments until you have paid the full price, and then you receive the merchandise.

 

Layaway agreements should contain all of the following information: the price of the item(s), the description, payments due, and the refund policy (i.e.: how much money you must forfeit if you cancel the agreement, or do not pay for and pick up the items by the close of the lay-away period).

 

 Relevant Statute: CGS Title 42 Chapter 738b



Content Last Modified on 4/7/2010 10:07:38 AM