Home Savings Ass'n v. Guerra

OPINION

CAMPBELL, Justice.

This is an action brought by Louis Guerra against Modern Builders and Supply and Home Savings Association to recover damages as a result of a home solicitation transaction. On appeal, the issue is whether an assignee of a retail installment contract can be held derivatively liable for the seller’s misconduct in excess of the amount paid by the buyer under the contract.

In 1984, Guerra and Modern Builders entered into a retail installment contract which contained a notice provision required by the Federal Trade Commission (discussed below). Under the contract, Modern…