Whenever an article is sold to a person who thereby is obligated to the vendor on
an account, chattel paper, contract right, general intangible, or a writing which
supports a right to the payment of a purchase price, or any part thereof, the tax
shall be based on the total purchase price and shall become immediately due and payable.
No refund or credit shall be allowed to either party to a transaction in case of repossession
by the vendor of collateral securing the purchase price or any part of the purchase
price.
(Ord. No. 666-81, § 1, 12-14-81)
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