Consumer Credit Transaction Law and Legal Definition

A consumer credit transaction is defined as a "transaction between a natural person and another person in which property, services or money is acquired on credit by that natural person from such other person primarily for personal, family, or household purposes." Durham v. Cont'l Cent. Credit, 2009 U.S. Dist. LEXIS 96760 (S.D. Cal. Oct. 19, 2009)