Retail installment contracts, retail charge agreements, and lender credit card agreements — Agreements by buyer not to assert claim or defense or to submit to suit in another county invalid.

No provision of a retail installment contract, retail charge agreement, or lender credit card agreement is valid by which the buyer agrees not to assert against the seller or against an assignee a claim or defense arising out of the sale, or by which the buyer agrees to submit to suit in a county other than the county where the buyer signed the contract or where the buyer resides or has his principal place of business.

[1984 c 280 § 7; 1967 c 234 § 9; 1963 c 236 § 15.]