Pre-Existing Business Relationship Law and Legal Definition
According to 12 CFR 41.20 [Title 12 Banks and Banking; Chapter I Comptroller of the Currency, Department of the Treasury; Part 41 Fair Credit Reporting; Subpart C Affiliate Marketing], pre-existing business relationship means “a relationship between a person, or a person's licensed agent, and a consumer based on
(A) A financial contract between the person and the consumer which is in force on the date on which the consumer is sent a solicitation covered by this subpart;
(B) The purchase, rental, or lease by the consumer of the person's goods or services, or a financial transaction (including holding an active account or a policy in force or having another continuing relationship) between the consumer and the person, during the 18-month period immediately preceding the date on which the consumer is sent a solicitation; or
(C) An inquiry or application by the consumer regarding a product or service offered by that person during the three-month period immediately preceding the date on which the consumer is sent a solicitation.”
Legal Definition list
- Pre-Enactment Interest
- Pre-emptive Rights
- Pre-dispute ADR Contract Clause
- Pre-Disposition Report (Juvenile)
- Pre-Contract Contract
- Pre-Existing Business Relationship
- Pre-existing Medical Condition
- Pre-existing Modified Supplementary Safety Measure
- Pre-existing Supplementary Safety Measure
- Pre-foreclosure Sale
- Pre-Hearings[Securities Dispute Resolution]
