17:16C-51 - Collection of charges if sale not made prohibited; status of deposit on contemplated purchase of goods - New Jersey Statutes

17:16C-51.  Collection of charges if sale not made prohibited;  status of deposit on contemplated purchase of goods
    No retail seller shall collect or retain any amount whatsoever in connection  with the contemplated sale of goods under a retail installment sales contract,  if such sale is not made;  provided, however, that nothing contained herein  shall affect the legal status of a deposit paid by a prospective retail buyer  to a retail seller as a binder on the contemplated purchase of goods.

     L.1960, c. 40, p. 160, s. 51.