19. A contract involving credit for the sale of a mobile home and a contract for the loan of money extended at the time of such sale are exempt from the application of section 87 of the Act where such contract involving credit or such contract for the loan of money stipulates that if, upon the expiry of its terms, an amount exceeding the amount of one deferred payment remains due, the merchant may not demand payment thereof before 90 days after he has given notice of his intention in writing to the consumer.
A contract for the loan of money granted for the purchase of a specific article is also exempt from the application of section 87 where under that contract the creditor undertakes, upon the expiry of the term and at the consumer’s option, to buy back from the consumer the article covered by the contract at the predetermined price indicated therein and where that contract prescribes that the consumer choosing the buy-back option is free of any obligation simply by returning the article in good condition to the creditor.
R.R.Q., 1981, c. P-40.1, r. 1, s. 19; O.C. 1148-90, s. 5.