reglab/housing_qa huggingface dataset:
AR Code § 4-56-103 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 56 - General Provisions|§ 4-56-103. Reimbursement for taxes

 (a)  (1) If a contract requires one (1) party to reimburse another party for the federal excise tax imposed by 26 U.S.C. § 4081 or 26 U.S.C. § 4091, whether as a separate item or as part of the contract price, the reimbursing party at its option and notwithstanding contrary terms of the contract shall not be required to make the reimbursement more than one (1) business day before the day on which the reimbursed party must remit the taxes to the Internal Revenue Service.  (2) Exercise of the option provided by subdivision (a)(1) of this section shall not relieve the reimbursing party of its obligation to make the reimbursement as required by the contract but shall affect only the timing of that reimbursement.    (b)  (1) Written notice of the reimbursing party's intent to exercise the option provided in subsection (a) of this section shall be given to the reimbursed party.  (2) The notice shall state the effective date of the exercise of the option which shall be no earlier than thirty (30) days after the notice of intent is received by the reimbursed party or the beginning of the reimbursed party's next federal tax quarter, whichever is later.    (c)  (1) If a reimbursing party exercises the option provided in subsection (a) of this section, the reimbursed party may demand security for the payment of the taxes in proportion to the amount the taxes represent compared to the security demanded on the contract as a whole.  (2) The reimbursed party may also require reimbursement to be made by electronic transfer of funds but may not change the other payment terms of the contract without a valid business reason.    (d)  (1) This section shall apply to all contracts that are:  (A) Continuing contracts with no fixed expiration date and in effect on August 12, 2005; or  (B) Entered into or renewed after August 12, 2005.    (2) All contracts in effect on August 12, 2005, that contain a fixed expiration date shall be governed by the law as it existed prior to August 12, 2005.
AR Code § 4-57-101 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 57 - Interest and Usury|§ 4-57-101. Calculation of interest — Definition

 (a) Whenever in any statute, deed, written or verbal contract, or in any public or private instrument whatever, any certain interest is or may be mentioned, and no period of time is stated for the rate of interest to be calculated, interest shall be calculated at the rate mentioned by the year, in the same manner as if the words “per annum” or “by the year” had been added to the rate.  (b)  (1) For the purpose of calculating interest, a month shall be considered the twelfth part of a year, and as consisting of thirty (30) days.  (2) Interest for any number of days less than a month shall be estimated by the proportion which the number of days shall bear to thirty (30).    (c)  (1)  (A)  (i) In calculating interest for a partial payment that is made on a consumer loan, the interest shall be calculated to the time when the partial payment was made, and the partial payment shall first be applied to the payment of the interest.  (ii) If the partial payment exceeds the interest due on a consumer loan, the balance of the partial payment shall be applied to reduce the principal of the debt.    (B) The method for calculating interest and applying payments under subdivision (c)(1)(A) of this section shall apply to all subsequent payments.    (2) Interest shall not be added to the principal balance of a consumer loan if a payment falls short of paying the interest due.  (3) Subdivisions (c)(1) and (2) of this section do not apply to commercial credit, including without limitation commercial real estate financing transactions.  (4) As used in this subsection, “consumer loan” means an extension of credit for personal, family, or household purposes but does not include credit card debt, open account debt, or installment loans.    (d) The rate of interest under a contract in which a rate of interest is not specified is six percent (6%) per annum.
AR Code § 4-57-102 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 57 - Interest and Usury|§ 4-57-102. Reservation or discounting of interest permitted

 It is lawful for a party to loan money in this state by reserving or discounting interest upon commercial paper, mortgages, or other securities for any period authorized by a rule or regulation of the Federal Housing Administration or its successor or for a period of at least thirty-six (36) months, whichever is greater, at any rate of interest agreed upon by the parties not to exceed the applicable rate of interest, if any, prescribed by Arkansas Constitution, Amendment 89, whether the papers or securities for principal or interest are payable in this state, or in any other state, territory, kingdom, or country.
AR Code § 4-57-103 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 57 - Interest and Usury|§ 4-57-103. Statement of principal and interest

 (a) Upon written request of the borrower or debtor, any seller, lender, or any other person, corporation, or legal entity extending credit in this state shall furnish the borrower or debtor at the time of extending credit or of making the sale with a statement separately stating the principal and interest charged for any goods, property, or services sold to the borrower or debtor.  (b)  (1) Any creditor willfully refusing to furnish the statement of principal and interest as required in this section or who upon furnishing the statement of principal and interest to the borrower or debtor fraudulently misrepresents the amount of principal or interest paid shall be guilty of a violation and upon conviction shall be subject to a fine of not less than fifty dollars ($50.00) nor more than five hundred dollars ($500).  (2) Each violation of this section shall constitute a separate offense.
AR Code § 4-57-104 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 57 - Interest and Usury|§ 4-57-104. Maximum rate of interest permitted

 The parties to a contract may agree in writing to the payment of interest not exceeding the applicable rate of interest, if any, set forth in Arkansas Constitution, Amendment 89, on money due or to become due.
AR Code § 4-57-105 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 57 - Interest and Usury|§ 4-57-105. Usurious interest prohibited

 No person or corporation shall, directly or indirectly, take or receive in money, goods, things in action, or any other valuable thing, any greater sum or value for the loan or forbearance of money or goods, things in action, or any other valuable thing, than is prescribed in § 4-57-104.
AR Code § 4-57-109 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 57 - Interest and Usury|§ 4-57-109. Consumer lawsuit lending — Definitions

 (a) As used in this section:  (1) “Consumer” means an individual who is or may become a plaintiff or claimant in a dispute;  (2) “Consumer lawsuit lender” means an individual or entity that engages in consumer lawsuit lending;  (3) “Consumer lawsuit lending” means:  (A) Providing money to a consumer to use for any purpose other than prosecuting the consumer's dispute, the repayment of which is conditioned upon and sourced from the consumer's proceeds from the outcome of the dispute by judgment, settlement, or otherwise; and  (B) Purchasing from a consumer a contingent right to receive a share of the proceeds of the consumer's dispute by judgment, settlement, or otherwise; and    (4) “Dispute” means:  (A) A civil action;  (B) An alternative dispute resolution proceeding; or  (C) An administrative proceeding before an agency or instrumentality of the government of this state.      (b)  (1) The maximum rate of interest provided by § 4-57-104 applies to a consumer lawsuit lending transaction.  (2) Any amount paid or payable to a consumer lawsuit lender under a consumer lawsuit lending transaction that exceeds the amount provided by the consumer lawsuit lender to the consumer in connection with a consumer's dispute shall be included as interest for purposes of § 4-57-104.    (c) A contract or agreement governing a consumer lawsuit lending transaction shall:  (1) Be in writing; and  (2)  (A) Prominently disclose the annual percentage rate applicable to the consumer lawsuit lending transaction.  (B) The annual percentage rate shall be included in bold, 20-point type and Arial font surrounded by a black rectangle border of line weight one point five (1.5), as follows:      (d) A violation of this section is:  (1) A deceptive and unconscionable trade practice under § 4-88-107; and  (2) Subject to the penalties, remedies, and enforcement provided by § 4-88-101 et seq.      “ APR   Click to view table.
AR Code § 4-58-101 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-101. Remedies unaltered by chapter

 Nothing contained in this chapter shall change the nature of the defense or prevent the allowance of discounts or offsets, either in law or equity, that any defendant may have against the original assignor previous to the assignment or against the plaintiff or assignee after the assignment.
AR Code § 4-58-102 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-102. Assignment of certain instruments authorized

 All bonds, bills, notes, agreements, and contracts in writing for the payment of money or property, or for both money and property, shall be assignable.
AR Code § 4-58-103 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-103. Consideration

 It shall not be necessary for any assignee to set forth the consideration of any of the assignments on any such assigned paper.
AR Code § 4-58-104 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-104. Date of assignment

 (a) All assignments of any instruments of writing shall bear the date upon which the assignment was made.  (b) All blank assignments shall be taken to have been made on the day most to the advantage of the defendant.
AR Code § 4-58-105 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-105. Completion of assignments — Rights and remedies of debtor and subsequent assignees

 (a) Every written assignment made in good faith, whether in the nature of a sale, pledge, or other transfer, or on account receivable or any moneys due or to become due on an open account or on a contract, except for wages and salaries, all of which shall be hereinafter referred to as “account”, with or without the giving of notice of the assignment to the debtor, shall be valid and complete at the time of the making of the assignment and shall be deemed to have been fully perfected at that time.  (b)  (1) After an assignment made in good faith is complete, no bona fide purchaser from the assignor, no creditor of the assignor, and no other assignee or transferee of the assignor in any event shall have or be deemed to have acquired any right or interest in the account so assigned or transferred or in the proceeds thereof or in any obligation substituted therefor, superior to the rights and interest therein of the assignee.  (2) In any case where, acting without knowledge of the assignment or transfer, the debtor in good faith pays all or part of such account to the assignor or to the creditor, subsequent purchaser, or other assignee and transferee, all payments so made shall be acquittance to the debtor to the extent thereof, and the assignor, creditor, subsequent purchaser, or other assignee and transferee shall be a trustee of any sums so paid and shall be accountable and liable to the prior assignee thereof.  (3) However, any defense of the debtor against any account so assigned or transferred shall be good as against any subsequent purchaser or other assignee and transferee.
AR Code § 4-58-106 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-106. Powers of assignor after assignment

 No assignor shall be able to release any part of the consideration of the instrument by him or her assigned after the assignment thereof.
AR Code § 4-58-107 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-107. Vendor's lien inures to benefit of assignee

 The lien or equity held or possessed by the vendor of any real estate for the sale of the real estate shall inure to the benefit of any assignee of the notes or obligations given for the purchase money of the real estate, and the lien or equity shall be assignable and payable by endorsement or otherwise, in the hands of the assignee, and any such assignee may maintain an action or suit to enforce the lien or equity if the lien or equity is expressed upon or appears from the face of the deed of conveyance.
AR Code § 4-58-108 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-108. Liability of assignors upon nonpayment or protest of instrument

 All endorsers or assignors of any instrument in writing assignable by law for the payment of money alone, on receiving due notice of the nonpayment or protest of any endorsed or assigned instrument in writing, shall be equally liable with the maker, obligor, or payee of the instrument, and may be sued for the same at the same time with the maker, obligor, or payee thereof, or may be sued separately.
AR Code § 4-58-109 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-109. Proof of assignment — Pleadings

 The assignee of any instrument in writing made assignable by law, on bringing suit on any assigned paper, shall not be required to prove the assignment unless the defendant annexes to his or her answer an affidavit denying the assignment and stating in the affidavit that he or she verily believes that one (1) or more of the assignments on the instrument of writing was forged.
AR Code § 4-58-110 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 58 - Assignments|§ 4-58-110. Recovery by plaintiff

 The plaintiff in the several actions shall collect only the amount of his or her demand, with interest due thereon, and the costs on only one (1) of the actions.
AR Code § 4-60-101 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 60 - Checks|§ 4-60-101. Definitions

 As used in this chapter, unless the context otherwise requires:   (1) “Check” means a written unconditional order to pay a sum certain in money drawn on a bank payable on demand and signed by the drawer;  (2) “Drawee” means the bank or purported bank upon which a check is drawn;  (3) “Drawer” means a person, either real or fictitious, whose name appears on a check as the primary obligor, whether the actual signature is that of himself or herself or a person authorized to draw the check in his or her behalf; and  (4) “Issue” means make, draw, deliver, or pass a check.
AR Code § 4-60-102 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 60 - Checks|§ 4-60-102. Applicability

 This chapter does not apply to the laws governing the imposition of a penalty for checks written on accounts which have insufficient funds and which checks are payable to either the Secretary of the Department of Finance and Administration or to the Department of Finance and Administration for any taxes, licenses, or fees imposed by any laws of this state.
AR Code § 4-60-103 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 5 - Contracts, Notes, and Other Commercial Instruments|Chapter 60 - Checks|§ 4-60-103. Liability for restitution

 (a) A person who issues a check that is not paid because the check was written on an account with insufficient funds has fifteen (15) days following the date of a written demand mailed or delivered to the drawer of the check at the address shown on the check or his or her last known address to pay to the holder of the check or his or her agent the amount of the check and a collection fee not to exceed thirty dollars ($30.00), plus the amount of any fees charged to the holder of the check by a financial institution as a result of the check's not being honored.  (b)  (1) A person who fails to make restitution as set forth in subsection (a) of this section and who fails to pay the amount of the check and a collection fee not to exceed thirty dollars ($30.00), plus the amount of any fees charged to the holder of the check by a financial institution as a result of the check's not being honored, within thirty (30) days following the date of a written demand mailed to the drawer by certified mail, return receipt requested, to the address shown on the check or his or her last known address is liable to the holder of the check or his or her agent for:  (A) Twice the amount of the check, but in no case less than fifty dollars ($50.00); and  (B) A collection fee not to exceed thirty dollars ($30.00), plus the amount of any fees charged to the holder of the check by any financial institution as a result of the check's not being honored.    (2) The prevailing party may recover court costs and reasonable attorney's fees after suit has been filed.    (c)  (1) This section does not prevent the criminal prosecution of the person who issues the check.  (2) However, any payment made by the defendant to a victim under an order for restitution entered in a criminal prosecution shall be set off against any judgment in favor of the victim in a civil action brought under this section arising out of the same facts or event.
AR Code § 4-74-101 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 6 - Business Practices|Chapter 74 - Going-Out-of-Business Sales|§ 4-74-101. Definitions

 As used in this subchapter, unless the context otherwise requires:   (1) “Going-out-of-business sale” means and includes all sales advertised, represented, or held under the designation of “going out of business”, “discontinuance of business”, “selling out”, “closing out”, “liquidation”, “lost our lease”, “must vacate”, “forced out”, or any other designation of similar meaning; and  (2) “Person” means any individual, corporation, partnership, association, or other entity.
AR Code § 4-74-102 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 6 - Business Practices|Chapter 74 - Going-Out-of-Business Sales|§ 4-74-102. Penalty

 Any person conducting a going-out-of-business sale contrary to the provisions of this chapter who shall fail or refuse to comply with the requirements of this chapter or who shall violate any provision of this chapter shall be guilty of a Class A misdemeanor.
AR Code § 4-74-103 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 6 - Business Practices|Chapter 74 - Going-Out-of-Business Sales|§ 4-74-103. Sales excepted from chapter

 The provisions of this chapter shall not be applicable to any sale of goods, wares, or merchandise pursuant to any court order or direction nor to the sale of any goods, wares, or merchandise by any sheriff or other public official in the course of his or her official duties.
AR Code § 4-74-104 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 6 - Business Practices|Chapter 74 - Going-Out-of-Business Sales|§ 4-74-104. Enforcement of chapter

 It is the duty of the sheriff and other law enforcement officers in each county and the prosecuting attorney for each county to enforce the provisions of this chapter.
AR Code § 4-74-105 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 6 - Business Practices|Chapter 74 - Going-Out-of-Business Sales|§ 4-74-105. License requirement

 No person shall advertise or offer for sale a stock of goods, wares, or merchandise as a going-out-of-business sale unless that person has first obtained a license to conduct the sale from the county clerk of the county in which he or she proposes to conduct the sale.
AR Code § 4-74-106 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 6 - Business Practices|Chapter 74 - Going-Out-of-Business Sales|§ 4-74-106. Application for license

 (a) The application for the license shall be in writing and under oath and shall be filed with the clerk at least fourteen (14) days prior to the opening date of the proposed sale.  (b) The application shall show all the facts relating to the reasons and character of the sale, including the opening and closing dates of the proposed sale.  (c) The application for a license to conduct a going-out-of-business sale shall be accompanied by a fee of two hundred fifty dollars ($250). However, if the applicant has been in business for a period of at least one (1) year at the location where the proposed going out of business sale is to be conducted, the license fee shall be twenty-five dollars ($25.00).
AR Code § 4-74-107 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 6 - Business Practices|Chapter 74 - Going-Out-of-Business Sales|§ 4-74-107. Bond

 (a) The application shall also be accompanied by a cash bond or a corporate surety bond in the amount of two thousand dollars ($2,000) or five percent (5%) of the wholesale value of the goods proposed to be offered at the sale, whichever is lesser, and shall be in favor of the State of Arkansas.  (b) The proceeds of the bond shall be available to assure compliance with the provisions of this chapter and the payment of any and all taxes due the State of Arkansas or any political subdivision of the state as the result of the sale and shall also be available to satisfy any judgment which may be rendered against the merchant in favor of any purchaser of goods, wares, or merchandise at the sale based upon the sale of such merchandise, and which judgment is rendered pursuant to an action which is filed within one (1) year after the date on which the going-out-of-business sale is completed.  (c) The bond shall be maintained for at least one (1) year and shall be released by the clerk only upon proof being submitted by the licensee that the licensee has complied with all provisions of this chapter, has paid all taxes and penalties due the State of Arkansas or any political subdivision thereof, and that all judgments, if any, rendered against the applicant as a result of the sale have been paid and that no action is pending against the licensee as a result of the sale.