Solar Equity Solutions FAQ and Legal Terms Flashcards

Vocabulary flashcards covering company background, financing concepts, legal terminology, and specific legal grounds from the Solar Equity Solutions FAQ and Rebuttals transcript.

Solar Equity Solutions

A financial services company that acts as the intake department for a specialized law firm, helping homeowners resolve deceptive solar agreements through contract cancellations, refunds, settlements, and remediation.

UCC-1 Filing

A public financing statement filed with the Secretary of State establishing a lender's legal claim and security interest in personal property, such as a solar system, as collateral for a loan or lease.

Cloud on Title

An encumbrance on property ownership caused when solar lenders collateralize a solar system against property equity, which prevents refinancing or transferring title until satisfied.

Damage Claims

Financial payouts calculated separately by an attorney based on the documented financial effect or harm a client has suffered due to going solar.

Standard Case Timeline

The standard quote of 6 to 18 months given to clients for full resolution of their solar contract exit case.

Escrow Holdback

A process allowing home sellers to place equity equal to their remaining solar balance in escrow with a title company until their legal case achieves full resolution or settlement.

Legal Grounds

Recognized facts, laws, or legal principles associated with ethical breaches that justify taking legal action or requesting court action.

Breach of Warranty

A legal ground occurring when a solar company fails to service or fulfill explicit warranty commitments on a system, governed by the Magnuson-Moss Warranty Act.

Breach of Contract

A legal ground based on a company failing to follow through on specific written commitments or deliverables outlined in the signed agreement.

Lending Fraud

A legal ground involving the submission of false or misleading information to qualify a client for financing when they lack sufficient financial standing.

Truth in Lending Act (TILA)

A federal law requiring lenders to provide a complete written paper disclosure of loan terms, payment breakdown, interest rates, and total payoff at the time of signing.

Holder's Law

A legal rule establishing that the holder of a financial note is equally liable with the sales company for misrepresentations made during the sale of the product.

Unfair and Deceptive Acts or Practices (UDAP)

A legal ground covering aggressive or coercive sales tactics, withholding material facts, or falsely claiming clients will eliminate their electric bill.

Fraud or Misrepresentation

A legal ground involving unauthorized signing on a client's behalf, hidden credit checks to secure financing, or presenting false details about services.

Unconscionability

A legal ground where a transaction is fundamentally unfair due to unethical targeting, such as selling high-ticket items to non-English speakers using English contracts or individuals with severe mental or medical conditions.

Failure of Consideration

A legal ground invoked when the contract's expected benefits fail to materialise, such as a solar system never being turned on or producing significantly less energy than represented.

Federal Trade Commission Act

The umbrella federal act protecting consumers that allows legal teams to establish grounds and pursue remedies against lenders engaging in unfair practices.

In-House Financing (Solar Equity Solutions)

An internal payment option offered to clients with poor credit, requiring as little as 20% down, 0% interest, and repayment structured over 12 months with no credit checks.