Legal Definition and Related Resources of Finance Charge
Meaning of Finance Charge
A service agreement or membership fee imposed as a condition before credit is extended; the charge must be payable directly or indirectly by person to whom credit is extended. If the charge if paid solely by the creditor and absorbed as a cost of doing business it is not a finance charge. Jennings v Edwards, (D.C.N.C. 454 F. Supp. 770.
Related Entries of Finance Charge in the Encyclopedia of Law Project
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Finance Charge in Historical Law
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Legal Abbreviations and Acronyms
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