Section 1902 - Confirmation At the time a seller accepts the credit of the buyer and establishes a retail installment account for his use, the seller shall confirm this fact to the buyer in writing. Such confirmation shall contain the same disclosures as required by section 901. This confirmation shall also contain a legend that the buyer may at any time pay his entire balance.
(a) The confirmation shall be in type no smaller than elite typewriter characters.(b) If no copy of the confirmation is retained by the seller, a notation in his permanent record showing that such confirmation was mailed, and the date of the mailing, shall serve as prima facie evidence of such mailing.(c) Every confirmation given to a buyer after October 1, 1988, must be: (1) Written in a clear and coherent manner using words with common and everyday meanings.(2) Appropriately divided and captioned by its various sections.(d) Any financing agency or retail seller who fails to comply with subsection (c) shall be liable to a consumer who is a party to a retail installment account governed by this act in an amount equal to any actual damages sustained plus a penalty of fifty dollars ($50). The total class action penalty against any such financing agency or retail seller shall not exceed ten thousand dollars ($10,000) in any class action or series of class actions arising out of the use by a financing agency or retail seller of a form of confirmation which fails to comply with subsection (c). No action under this subsection may be brought after both parties to the retail installment account have fully performed their obligation under such account, nor shall any financing agency or retail seller who attempts in good faith to comply with subsection (c) be liable for such penalties. Subsection (c) shall not prohibit the use of words or phrases or forms of agreement required by State or Federal law, rule or regulation or by a governmental instrumentality. A violation of the provisions of subsection (c) shall not render any retail installment account void or voidable nor shall it constitute: (1) a defense to any action or proceeding to enforce the terms of such account; or(2) a defense to any action or proceeding for breach of contract.1966, Special Sess. No. 1, Oct. 28, P.L. 55, art. IX, § 902. Amended 1988, Feb. 26, P.L. 78, No. 15, § 3, imd. effective. Reenacted 1989, July 11, P.L. 573, No. 57, § 3, imd. effective.