Statute · New York General Business Law
N.Y. Gen. Bus. Law § 862 — Recision and other penalties
N.Y. Gen. Bus. Law § 862
- Type
- Statute
- Source
- New York General Business Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 862. Recision and other penalties. If a merchant fails to comply with the disclosure provisions of section eight hundred fifty-seven of this article, the transferee may rescind the transaction. In addition, where the merchant has made knowingly false statements to a transferee, the transferee…
Citator
N.Y. Gen. Bus. Law § 862 — Recision and other penalties is in force in the current edition of the Code, and nothing recorded condemns it.
§ 862. Recision and other penalties. If a merchant fails to comply with the disclosure provisions of section eight hundred fifty-seven of this article, the transferee may rescind the transaction. In addition, where the merchant has made knowingly false statements to a transferee, the transferee may recover actual damages, if any, and a penalty in the sum of two hundred fifty dollars. The remedies provided in this section are in addition to other remedies available by law.