§ 401. Definitions. In this article, unless the context or subject
matter otherwise requires:

1. "Goods" means all chattels personal, other than things in action or
money, sold for other than a commercial or business use or for purpose
of resale. The term includes goods which, at the time of the sale or
subsequently, are to be so affixed to realty as to become a part thereof
whether or not severable therefrom, but does not include a motor vehicle
as defined in article nine or nine-A of this chapter, nor any goods sold
or leased with such a vehicle if they are sold under a retail instalment
contract governed by article nine of this chapter or leased under a
retail lease agreement governed by article nine-A of this chapter.

In the case of a retail instalment credit agreement, the term also
includes all chattels personal, other than things in action or money,
sold for a commercial or business use.

2. "Services" means: (a) In the case of a retail instalment contract,
work, labor and services furnished, or agreed to be furnished, for other
than a commercial or business use, in the delivery, installation,
servicing, repair or improvement of goods or repairs, alterations or
improvements upon or in connection with real property, except that such
services shall not mean or include any services sold in connection with
the sale or lease of a motor vehicle which is evidenced by a retail
instalment contract governed by article nine of this chapter or a retail
lease agreement governed by article nine-A of this chapter;

(b) In the case of a retail instalment obligation, services of any
kind furnished or rendered or agreed to be furnished or rendered, for
other than a commercial or business use, except that such services shall
not mean nor include (1) services for which the tariffs or the rates,
charges, cost or expense is required by law to be filed with or
determined or approved by the state or federal government or any
official department, division, commission or agency of the state of New
York or of the United States, or (2) services by an institution of the
university of the state of New York, an elementary school which provides
the education required by the state of New York, a nursery school or a
kindergarten; and

(c) In the case of a retail instalment credit agreement, services of
any kind rendered or furnished or agreed to be rendered or furnished by
a retail seller; and, in the case of a retail instalment credit
agreement entered into under paragraph (b) of subdivision eleven of
section four hundred thirteen of this chapter, a contract or contracts
of insurance issued to a retail buyer.

3. "Retail seller" or "seller" means a person who sells goods or
furnishes or renders or agrees to furnish or render services to a retail
buyer. The term includes the lessor under a lease of a department in a
shop, store or other establishment if the lessor is liable to customers
in respect to goods sold or services furnished or rendered by the leased
department and the other operations thereof.

4. "Retail buyer" or "buyer" means a person who buys goods or obtains
services from a retail seller. When used in subdivision eleven of
section four hundred thirteen of this chapter, the term also means any
person who is liable for the payment of a fine, tax, civil penalty,
rent, rate, fee, charge, revenue, financial obligation or other amount,
including a penalty, special assessment or interest, to a municipal
corporation or the New York city water board, and any person who is
liable for the payment of any fee, rate, rent or other charge of the
White Plains parking authority.

5. "Retail instalment sale" or "sale" means a sale of goods, or the
furnishing or rendering of services, or an agreement to furnish or
render services, by a retail seller to a retail buyer for a time sale
price payable in instalments.

6. "Retail instalment contract" or "contract" means an agreement
entered into in this state, pursuant to which the title to, the property
or a security interest in or a lien upon goods, which are the subject
matter of a retail instalment sale, is retained or taken by a retail
seller from a retail buyer as security, in whole or in part, for the
buyer's obligation. The term includes such an agreement wherever entered
into if executed by the buyer in this state and if solicited in person
by a salesman or other person acting on his own behalf or that of the
seller. The term also includes a contract whereby a security interest
in favor of the seller is created or retained and a contract for the
bailment or leasing of goods by which the bailee or lessee contracts to
pay as compensation for their use a sum substantially equivalent to or
in excess of their value and by which it is agreed that the bailee or
lessee is bound to become, or has the option of becoming, the owner of
the goods upon full compliance with the terms of the contract. The term
does not include a contract which is intended to be and is ultimately
insured or guaranteed under title three of the act of Congress entitled
"Servicemen's Readjustment Act of 1944".

7. "Retail instalment obligation" or "obligation" means an agreement,
entered into in this state, pursuant to which the buyer promises to pay,
in instalments, the time sale price or prices of goods and/or services,
or any part thereof. The term includes such an agreement wherever
entered into if executed by the buyer in this state and if solicited in
person by a salesman or other person acting on his own behalf or that of
the seller. The term does not include (a) a retail instalment contract,
(b) a retail instalment credit agreement, or (c) an obligation which is
intended to be and is ultimately insured or guaranteed until title three
of the act of Congress entitled "Servicemen's Readjustment Act of 1944".

8. "Retail instalment credit agreement" or "credit agreement" means an
agreement entered into in this state, pursuant to which the buyer
promises to pay, in instalments, his outstanding indebtedness from time
to time to a retail seller, not evidenced by a retail instalment
contract or obligation, for one or more items of goods or services, or
merchandise certificates to be used solely in exchange for goods and
services with a cash sale price in the face amount of such certificates
and not redeemable in cash, whenever purchased or obtained, which
provides for a service charge and under which instalment payments apply
to his outstanding indebtedness from time to time. The term includes
such an agreement wherever entered into if executed by the buyer in this
state and if solicited in person by a salesman or other person acting on
his own behalf or that of the seller. The term also includes a retail
instalment credit agreement entered into by a financing agency with a
retail buyer as provided in subdivision eleven of section four hundred
thirteen of this article.

8-a. "Retail instalment note" or "note" means a promissory note
required by the provision of a retail instalment obligation and
conforming to the requirements of subdivision two of section four
hundred three of this article.

9. "Cash sale price" means the cash sale price stated in a retail
instalment contract or obligation for which the seller would sell or
furnish to the buyer and the buyer would buy or obtain from the seller
the goods or services which are the subject matter of a retail
instalment contract or obligation if the sale were a sale for cash
instead of a retail instalment sale. The cash sale price may include any
taxes and cash sale prices for accessories and services, if any,
included in a retail instalment sale.

10. "Time sale price" means the total of the cash sale price of the
goods or services and the amounts, if any, included for insurance,
official fees and credit service charge.

11. "Credit service charge" means that part of the entire amount
agreed to be paid for the goods or services which exceeds the aggregate
of the cash sale price thereof and the amounts, if any, included in a
retail instalment sale for insurance and official fees.

12. "Service charge" means all charges incident to investigating and
making a retail instalment credit agreement and for the extension of
credit thereunder.

13. "Principal balance" means the cash sale price of the goods or
services which are the subject matter of the retail instalment sale,
plus the amounts, if any, included in a retail instalment sale for
insurance and official fees, minus the amount of the buyer's
down-payment in money or goods.

14. "Time balance" means the total of the principal balance and the
amount of the credit service charge, if any.

15. "Holder" means the retail seller who acquires a retail instalment
contract, obligation or credit agreement, or note, executed, incurred or
entered into by a retail buyer, or if the contract, obligation, credit
agreement or note is purchased by a financing agency or other assignee
or endorsee, the financing agency or other assignee or endorsee.

16. "Official fees" means the fees or taxes required by law and
actually to be paid to the appropriate public officer to perfect the
lien or other security interest, on or in goods, retained or taken by a
seller under a retail instalment contract or to record a mortgage on
real property taken by a seller or holder to secure a retail instalment
contract or obligation or note.

17. "Person" means an individual, partnership, corporation,
association or other group, however organized.

18. "Financing agency" means a person engaged in this state, in whole
or in part, in the business of purchasing retail instalment contracts,
obligations or credit agreements or indebtedness of buyers under credit
agreements from one or more retail sellers or entering into credit
agreements with retail buyers as provided in subdivision eleven of
section four hundred thirteen of this article but shall not include a
retail seller. The term includes but is not limited to a bank, trust
company, savings bank, savings and loan association, private banker or
investment company, if so engaged, but shall not include a retail
seller.

19. Words in the singular include the plural and vice versa.

20. "Boat" shall mean any vessel or craft designed to transport
persons or cargo on the water surface.

21. "New York city water board" means the public benefit corporation
established pursuant to section one thousand forty-six of the public
authorities law.

22. "Municipal corporation" means a local government, as that term is
defined in section ten of the general municipal law.

23. "White Plains parking authority" means the corporation created by
section one thousand four hundred twenty-seven of the public authorities
law.