A creditor or a person acting for a creditor may not induce a consumer to enter into a consumer credit transaction by misrepresentation of a material fact with respect to the terms and conditions of the extension of credit. A consumer so induced may rescind the sale, lease or loan or recover actual damages, or both.
Me. Rev. Stat. tit. 9-A, § 5-115
Misrepresentation
Known as the Maine Consumer Credit Code
The act spans §§ 1–11 (208 sections).
PL 1973, c. 762, §1 (NEW)
Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.